Pair Correlation Between Yobit SibCoin and HitBTC Stratis

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

Yobit

SibCoin on Yobit in USD
 3.4 
0.1  3.03%
Market Cap: 1 K

HitBTC

Stratis on HitBTC in USD
 14.43 
(0.82)  5.38%
Market Cap: 10.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SibCoin is expected to generate 1.09 times less return on investment than HitBTC Stratis. In addition to that, Yobit SibCoin is 1.52 times more volatile than HitBTC Stratis USD. It trades about 0.1 of its total potential returns per unit of risk. HitBTC Stratis USD is currently generating about 0.16 per unit of volatility. If you would invest  1,048  in HitBTC Stratis USD on December 22, 2017 and sell it today you would earn a total of  477  from holding HitBTC Stratis USD or generate 45.52% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit SibCoin and HitBTC Stratis
0.12

Parameters

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

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit SibCoin USD

  
6 

Risk-Adjusted Performance

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

Yobit SibCoin USD

Pair trading matchups for Yobit SibCoin

HitBTC Stratis USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis