Pair Correlation Between HitBTC ByteCoin and Yobit Ratecoin

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


ByteCoin on HitBTC in USD
0.000124  4.39%
Market Cap: 13.2 K


Ratecoin on Yobit in USD
0.000414  15.45%
Market Cap: 40.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to under-perform the Yobit Ratecoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC ByteCoin USD is 9.97 times less risky than Yobit Ratecoin. The crypto trades about -0.32 of its potential returns per unit of risk. The Yobit Ratecoin USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  0.40  in Yobit Ratecoin USD on February 22, 2018 and sell it today you would lose (0.09)  from holding Yobit Ratecoin USD or give up 22.65% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC ByteCoin and Yobit Ratecoin


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

Comparative Volatility

 Predicted Return Density 

HitBTC ByteCoin USD


Risk-Adjusted Performance

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

Yobit Ratecoin USD


Risk-Adjusted Performance

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