Pair Correlation Between Yobit Ratecoin and HitBTC ByteCoin

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

Yobit Ratecoin USD  vs.  HitBTC ByteCoin USD

Yobit

Ratecoin on Yobit in USD
 0.00152 
0.000016  1.06%
Market Cap: 1.0
  

HitBTC

ByteCoin on HitBTC in USD
 0.005438 
0.000092  1.66%
Market Cap: 47.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ratecoin USD is expected to generate 5.38 times more return on investment than HitBTC ByteCoin. However, Yobit Ratecoin is 5.38 times more volatile than HitBTC ByteCoin USD. It trades about 0.06 of its potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about 0.05 per unit of risk. If you would invest  0.96  in Yobit Ratecoin USD on March 28, 2018 and sell it today you would lose (0.81)  from holding Yobit Ratecoin USD or give up 84.17% of portfolio value over 30 days.

Pair Corralation between Yobit Ratecoin and HitBTC ByteCoin

0.25
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy98.36%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Ratecoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ratecoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
HitBTC ByteCoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.