Pair Correlation Between Yobit GeoCoin and HitBTC DigitalCash |
This module allows you to analyze existing cross correlation between Yobit GeoCoin USD and HitBTC DigitalCash USD. You can compare the effects of market volatilities on Yobit GeoCoin and HitBTC DigitalCash 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 GeoCoin with a short position of HitBTC DigitalCash. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit GeoCoin and HitBTC DigitalCash.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
Yobit GeoCoin USD vs. HitBTC DigitalCash USD
YobitGeoCoin on Yobit in USD 0.14
| HitBTCDigitalCash on HitBTC in USD 445.36
|
Pair Volatility
Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 6.06 times more return on investment than HitBTC DigitalCash. However, Yobit GeoCoin is 6.06 times more volatile than HitBTC DigitalCash USD. It trades about 0.07 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.08 per unit of risk. If you would invest 61.10 in Yobit GeoCoin USD on March 22, 2018 and sell it today you would lose (47.53) from holding Yobit GeoCoin USD or give up 77.79% of portfolio value over 30 days.
Pair Corralation between Yobit GeoCoin and HitBTC DigitalCash
0.7
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Significant |
| Accuracy | 98.36% |
| Values | Daily Returns |
Diversification
Poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit GeoCoin USD and HitBTC DigitalCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigitalCash USD and Yobit GeoCoin 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 GeoCoin USD are associated (or correlated) with HitBTC DigitalCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigitalCash USD has no effect on the direction of Yobit GeoCoin i.e. Yobit GeoCoin and HitBTC DigitalCash go up and down completely randomly.
Comparative Volatility
| Yobit GeoCoin USD |
4 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Yobit GeoCoin USD
Pair trading matchups for Yobit GeoCoin
| HitBTC DigitalCash USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.
HitBTC DigitalCash USD
Pair trading matchups for HitBTC DigitalCash
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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.