Pair Correlation Between Yobit SpaceCoin and HitBTC ByteCoin

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

Yobit SpaceCoin USD  vs.  HitBTC ByteCoin USD


SpaceCoin on Yobit in USD
0.000419  8.52%
Market Cap: 0


ByteCoin on HitBTC in USD
0.000238  4.87%
Market Cap: 66.3 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit SpaceCoin USD is expected to generate 3.72 times more return on investment than HitBTC ByteCoin. However, Yobit SpaceCoin is 3.72 times more volatile than HitBTC ByteCoin USD. It trades about 0.14 of its potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about 0.0 per unit of risk. If you would invest  0.84  in Yobit SpaceCoin USD on March 21, 2018 and sell it today you would earn a total of  0.25  from holding Yobit SpaceCoin USD or generate 29.27% return on investment over 30 days.

Pair Corralation between Yobit SpaceCoin and HitBTC ByteCoin

Time Period2 Months [change]
StrengthVery Weak
ValuesDaily Returns


Modest diversification

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

Comparative Volatility

 Predicted Return Density 
Yobit SpaceCoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SpaceCoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
HitBTC ByteCoin USD  

Risk-Adjusted Performance

Over the last 30 days HitBTC ByteCoin 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
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

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 Equity Search module to search for activelly-traded equities including funds and etfs from over 30 global markets.