Pair Correlation Between HitBTC BitConnect and Yobit BitCrystal

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

HitBTC

BitConnect Coin on HitBTC in USD
 345.9 
11.8  3.53%
Market Cap: 9.9 M

Yobit

BitCrystal on Yobit in USD
 0.00043 
0.00001  2.38%
Market Cap: 78.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC BitConnect Coin USD is expected to generate 1.79212976118686E12 times more return on investment than Yobit BitCrystal. However, HitBTC BitConnect is 1.79212976118686E12 times more volatile than Yobit BitCrystal USD. It trades about 0.18 of its potential returns per unit of risk. Yobit BitCrystal USD is currently generating about 0.21 per unit of risk. If you would invest  0.00  in HitBTC BitConnect Coin USD on November 13, 2017 and sell it today you would earn a total of  33,410  from holding HitBTC BitConnect Coin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC BitConnect and Yobit BitCrystal
0.22

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC BitConnect Coin

  
12 

Risk-Adjusted Performance

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

HitBTC BitConnect Coin USD

Pair trading matchups for HitBTC BitConnect

Yobit BitCrystal USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCrystal USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Yobit BitCrystal USD

Pair trading matchups for Yobit BitCrystal