Pair Correlation Between Yobit BitstarCoin and HitBTC NEM

Overlapping area represents the amount of risk that can be diversified away by holding Yobit BitstarCoin USD and HitBTC NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC NEM USD and Yobit BitstarCoin is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Yobit BitstarCoin USD are associated (or correlated) with HitBTC NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC NEM USD has no effect on the direction of Yobit BitstarCoin i.e. Yobit BitstarCoin and HitBTC NEM go up and down completely randomly.