Pair Correlation Between HitBTC Autumncoin and Yobit MapCoin

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

HitBTC

Autumncoin on HitBTC in USD
 0.0161 
(0.0009)  5.29%
Market Cap: 10.8 K

Yobit

MapCoin on Yobit in USD
 0.16 
0.0204  14.5%
Market Cap: 34.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Autumncoin is expected to generate 9.93 times less return on investment than Yobit MapCoin. But when comparing it to its historical volatility, HitBTC Autumncoin USD is 1.71 times less risky than Yobit MapCoin. It trades about 0.03 of its potential returns per unit of risk. Yobit MapCoin USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  11.09  in Yobit MapCoin USD on November 15, 2017 and sell it today you would earn a total of  5.02  from holding Yobit MapCoin USD or generate 45.27% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Autumncoin and Yobit MapCoin
0.2

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy74.19%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Autumncoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.