Pair Correlation Between Yobit Fitcoin and HitBTC Stratis

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

Yobit

Fitcoin on Yobit in USD
 0.0008 
0.00005  6.67%
Market Cap: 7.0

HitBTC

Stratis on HitBTC in USD
 16.14 
(5.42)  25.14%
Market Cap: 14 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Fitcoin USD is expected to generate 27.17 times more return on investment than HitBTC Stratis. However, Yobit Fitcoin is 27.17 times more volatile than HitBTC Stratis USD. It trades about 0.3 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  0.24  in Yobit Fitcoin USD on December 17, 2017 and sell it today you would lose (0.18)  from holding Yobit Fitcoin USD or give up 76.6% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Fitcoin and HitBTC Stratis
-0.21

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy86.67%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Fitcoin 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 Fitcoin 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 Fitcoin 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 Fitcoin i.e. Yobit Fitcoin and HitBTC Stratis go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Fitcoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Fitcoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

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.