Pair Correlation Between HitBTC BitConnect and Yobit Decred

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

HitBTC

BitConnect Coin on HitBTC in USD
 346.4 
6.7  1.97%
Market Cap: 9.9 M

Yobit

Decred on Yobit in USD
 66.22 
11.12  20.18%
Market Cap: 519.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC BitConnect Coin USD is expected to generate 2.244936929627089E13 times more return on investment than Yobit Decred. However, HitBTC BitConnect is 2.244936929627089E13 times more volatile than Yobit Decred USD. It trades about 0.18 of its potential returns per unit of risk. Yobit Decred USD is currently generating about 0.26 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  34,640  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 Decred
0.13

Parameters

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

Diversification

Average diversification

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

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Decred USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.