Correlation Analysis Between HitBTC ByteCoin and HitBTC Bancor

This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and HitBTC Bancor Network Token USD. You can compare the effects of market volatilities on HitBTC ByteCoin and HitBTC Bancor 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 ByteCoin with a short position of HitBTC Bancor. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC ByteCoin and HitBTC Bancor.
 Time Horizon     30 Days    Login   to change

HitBTC ByteCoin USD  vs.  HitBTC Bancor Network Token US


ByteCoin on HitBTC in USD
0.000341  5.12%
Market Cap: 139.9 K


Bancor Network Token on HitBTC in USD
0.10  2.52%
Market Cap: 1.3 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to generate 3.38 times more return on investment than HitBTC Bancor. However, HitBTC ByteCoin is 3.38 times more volatile than HitBTC Bancor Network Token USD. It trades about 0.1 of its potential returns per unit of risk. HitBTC Bancor Network Token USD is currently generating about -0.07 per unit of risk. If you would invest  0.53  in HitBTC ByteCoin USD on April 26, 2018 and sell it today you would earn a total of  0.12  from holding HitBTC ByteCoin USD or generate 22.27% return on investment over 30 days.

Pair Corralation between HitBTC ByteCoin and HitBTC Bancor

Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
HitBTC ByteCoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
HitBTC Bancor Network  

Risk-Adjusted Performance

Over the last 30 days HitBTC Bancor Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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