Pair Correlation Between Yobit GeoCoin and HitBTC NEM

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

Yobit

GeoCoin on Yobit in USD
 6.5 
(0.5)  7.14%
Market Cap: 771

HitBTC

NEM on HitBTC in USD
 0.77 
0.0336  4.55%
Market Cap: 83.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 13.84 times more return on investment than HitBTC NEM. However, Yobit GeoCoin is 13.84 times more volatile than HitBTC NEM USD. It trades about 0.22 of its potential returns per unit of risk. HitBTC NEM USD is currently generating about 0.1 per unit of risk. If you would invest  110  in Yobit GeoCoin USD on December 17, 2017 and sell it today you would earn a total of  590  from holding Yobit GeoCoin USD or generate 536.36% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit GeoCoin and HitBTC NEM
0.78

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit GeoCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

HitBTC NEM USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC NEM USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.