Pair Correlation Between HitBTC BitConnect and Yobit Creva

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

HitBTC

BitConnect Coin on HitBTC in USD
 345 
(9.9)  2.79%
Market Cap: 9.9 M

Yobit

Creva Coin on Yobit in USD
 0.001064 
0.000097  10.03%
Market Cap: 3.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC BitConnect Coin USD is expected to generate 4.32022340708183E12 times more return on investment than Yobit Creva. However, HitBTC BitConnect is 4.32022340708183E12 times more volatile than Yobit Creva Coin USD. It trades about 0.18 of its potential returns per unit of risk. Yobit Creva Coin USD is currently generating about 0.17 per unit of risk. If you would invest  0.00  in HitBTC BitConnect Coin USD on November 14, 2017 and sell it today you would earn a total of  35,490  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 Creva
-0.23

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

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

Yobit Creva Coin

  
10 

Risk-Adjusted Performance

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