Pair Correlation Between Yobit SibCoin and HitBTC Autumncoin

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

Yobit

SibCoin on Yobit in USD
 3.2 
0.09  2.89%
Market Cap: 1 K

HitBTC

Autumncoin on HitBTC in USD
 0.0248 
0.0057  29.84%
Market Cap: 56.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SibCoin is expected to generate 2.43 times less return on investment than HitBTC Autumncoin. But when comparing it to its historical volatility, Yobit SibCoin USD is 1.55 times less risky than HitBTC Autumncoin. It trades about 0.08 of its potential returns per unit of risk. HitBTC Autumncoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  1.68  in HitBTC Autumncoin USD on December 19, 2017 and sell it today you would earn a total of  0.23  from holding HitBTC Autumncoin USD or generate 13.69% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit SibCoin and HitBTC Autumncoin
-0.06

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit SibCoin USD

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SibCoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

HitBTC Autumncoin USD

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

HitBTC Autumncoin USD

Pair trading matchups for HitBTC Autumncoin