Pair Correlation Between HitBTC Autumncoin and Yobit EmberCoin

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

HitBTC

Autumncoin on HitBTC in USD
 0.0222 
(0.0099)  30.84%
Market Cap: 56.6 K

Yobit

EmberCoin on Yobit in USD
 0.0002002 
(0.0000528)  20.87%
Market Cap: 2.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 3.75 times less return on investment than Yobit EmberCoin. But when comparing it to its historical volatility, HitBTC Autumncoin USD is 1.83 times less risky than Yobit EmberCoin. It trades about 0.14 of its potential returns per unit of risk. Yobit EmberCoin USD is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest  0.00  in Yobit EmberCoin USD on December 17, 2017 and sell it today you would earn a total of  0.02  from holding Yobit EmberCoin USD or generate 456.11% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and Yobit EmberCoin
0.25

Parameters

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

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
9 

Risk-Adjusted Performance

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

Yobit EmberCoin USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EmberCoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.