Pair Correlation Between Yobit Dnotes and HitBTC PeerCoin

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

Yobit

Dnotes on Yobit in USD
 0.091 
0.02071  29.46%
Market Cap: 197

HitBTC

PeerCoin on HitBTC in USD
 4.72 
0.22  4.89%
Market Cap: 178.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Dnotes USD is expected to generate 3.72 times more return on investment than HitBTC PeerCoin. However, Yobit Dnotes is 3.72 times more volatile than HitBTC PeerCoin USD. It trades about 0.27 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about 0.04 per unit of risk. If you would invest  2.5  in Yobit Dnotes USD on December 18, 2017 and sell it today you would earn a total of  4.53  from holding Yobit Dnotes USD or generate 181.16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Dnotes and HitBTC PeerCoin
0.53

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Dnotes USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dnotes USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Yobit Dnotes USD

Pair trading matchups for Yobit Dnotes

HitBTC PeerCoin USD

  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC PeerCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

HitBTC PeerCoin USD

Pair trading matchups for HitBTC PeerCoin