Pair Correlation Between HitBTC Autumncoin and Yobit Lisk

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

HitBTC

Autumncoin on HitBTC in USD
 0.0165 
(0.018)  52.17%
Market Cap: 8.9 K

Yobit

Lisk on Yobit in USD
 8.55 
0.34  4.14%
Market Cap: 12.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin USD is expected to generate 3.06 times more return on investment than Yobit Lisk. However, HitBTC Autumncoin is 3.06 times more volatile than Yobit Lisk USD. It trades about 0.16 of its potential returns per unit of risk. Yobit Lisk USD is currently generating about 0.18 per unit of risk. If you would invest  2.09  in HitBTC Autumncoin USD on November 12, 2017 and sell it today you would earn a total of  1.36  from holding HitBTC Autumncoin USD or generate 65.07% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and Yobit Lisk
-0.02

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 HitBTC Autumncoin USD and Yobit Lisk USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Lisk 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 Lisk. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Lisk USD has no effect on the direction of HitBTC Autumncoin i.e. HitBTC Autumncoin and Yobit Lisk go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
10 

Risk-Adjusted Performance

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

Yobit Lisk USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Lisk USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.