Pair Correlation Between HitBTC Bancor and Yobit BitBean

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

HitBTC

Bancor Network Token on HitBTC in USD
 3.87 
0.02  0.52%
Market Cap: 1.9 M

Yobit

BitBean on Yobit in USD
 0.008989 
0.000089  1%
Market Cap: 27.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 25.8 times less return on investment than Yobit BitBean. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 30.16 times less risky than Yobit BitBean. It trades about 0.38 of its potential returns per unit of risk. Yobit BitBean USD is currently generating about 0.32 of returns per unit of risk over similar time horizon. If you would invest  0.21  in Yobit BitBean USD on November 17, 2017 and sell it today you would earn a total of  0.69  from holding Yobit BitBean USD or generate 321.82% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and Yobit BitBean
0.17

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.

Yobit BitBean USD

  
21 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.