Pair Correlation Between Yobit BuzzCoin and HitBTC Stratis

This module allows you to analyze existing cross correlation between Yobit BuzzCoin USD and HitBTC Stratis USD. You can compare the effects of market volatilities on Yobit BuzzCoin and HitBTC Stratis and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Yobit BuzzCoin with a short position of HitBTC Stratis. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit BuzzCoin and HitBTC Stratis.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Yobit BuzzCoin USD  vs   HitBTC Stratis USD

Yobit

BuzzCoin on Yobit in USD
 0.00121 
(0.00007)  5.47%
Market Cap: 268

HitBTC

Stratis on HitBTC in USD
 13.38 
0.39  3%
Market Cap: 10.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BuzzCoin USD is expected to generate 2.7 times more return on investment than HitBTC Stratis. However, Yobit BuzzCoin is 2.7 times more volatile than HitBTC Stratis USD. It trades about 0.26 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about 0.12 per unit of risk. If you would invest  0.03  in Yobit BuzzCoin USD on December 22, 2017 and sell it today you would earn a total of  0.09  from holding Yobit BuzzCoin USD or generate 262.28% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BuzzCoin and HitBTC Stratis
0.59

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit BuzzCoin USD and HitBTC Stratis USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Stratis USD and Yobit BuzzCoin 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 BuzzCoin USD are associated (or correlated) with HitBTC Stratis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Stratis USD has no effect on the direction of Yobit BuzzCoin i.e. Yobit BuzzCoin and HitBTC Stratis go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BuzzCoin USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BuzzCoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Yobit BuzzCoin USD

Pair trading matchups for Yobit BuzzCoin

HitBTC Stratis USD

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis