Pair Correlation Between Yobit Golem and HitBTC DigitalCash

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

Yobit Golem Network Token USD  vs.  HitBTC DigitalCash USD

Yobit

Golem Network Token on Yobit in USD
 0.55 
0.037  7.25%
Market Cap: 310
  

HitBTC

DigitalCash on HitBTC in USD
 494.58 
10.08  2.00%
Market Cap: 1.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Golem Network Token USD is expected to generate 3.09 times more return on investment than HitBTC DigitalCash. However, Yobit Golem is 3.09 times more volatile than HitBTC DigitalCash USD. It trades about 0.1 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.03 per unit of risk. If you would invest  37.50  in Yobit Golem Network Token USD on March 28, 2018 and sell it today you would earn a total of  13.54  from holding Yobit Golem Network Token USD or generate 36.11% return on investment over 30 days.

Pair Corralation between Yobit Golem and HitBTC DigitalCash

0.66
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy98.36%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Golem Network  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
HitBTC DigitalCash USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
Alphabet cannot be verified against its exchange. It appears that Alphabet is not available for investing at this time. Please verify the symbol is currently traded on NASDAQ. If you still believe the symbol you are trying to look up is valid please let us know and we will check it as soon as possible.

Try Other Suggestions

GTVJXGoldman Sachs Target Date 2030Fund
GTVMXGoldman Sachs Target Date 2040Fund
GTVOXGoldman Sachs Target Date 2035Fund
GTVSXGoldman Sachs Target Date 2050Fund
FPPXXGovernment Obligations Fund ClFund
ELKMFGold Road Resources LimitedStock
GCGAXGoldman Sachs Concentrated GroFund

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.