Pair Correlation Between Yobit ClubCoin and HitBTC Verge

This module allows you to analyze existing cross correlation between Yobit ClubCoin USD and HitBTC Verge USD. You can compare the effects of market volatilities on Yobit ClubCoin and HitBTC Verge 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 ClubCoin with a short position of HitBTC Verge. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit ClubCoin and HitBTC Verge.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Yobit ClubCoin USD  vs   HitBTC Verge USD

Yobit

ClubCoin on Yobit in USD
 3.09 
(0.03)  0.96%
Market Cap: 537

HitBTC

Verge on HitBTC in USD
 0.12 
0.04901  71.98%
Market Cap: 413 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 6.57 times more return on investment than HitBTC Verge. However, Yobit ClubCoin is 6.57 times more volatile than HitBTC Verge USD. It trades about 0.2 of its potential returns per unit of risk. HitBTC Verge USD is currently generating about 0.09 per unit of risk. If you would invest  480  in Yobit ClubCoin USD on December 18, 2017 and sell it today you would lose (168)  from holding Yobit ClubCoin USD or give up 35.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit ClubCoin and HitBTC Verge
-0.35

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit ClubCoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

HitBTC Verge USD

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.