Pair Correlation Between HitBTC Bancor and Yobit BitCrystal

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

HitBTC

Bancor Network Token on HitBTC in USD
 2.72 
0.21  8.37%
Market Cap: 1.1 M

Yobit

BitCrystal on Yobit in USD
 0.000528 
0.000268  103.08%
Market Cap: 78.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 14.44 times less return on investment than Yobit BitCrystal. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 18.99 times less risky than Yobit BitCrystal. It trades about 0.28 of its potential returns per unit of risk. Yobit BitCrystal USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  0.1  in Yobit BitCrystal USD on November 11, 2017 and sell it today you would lose (0.06)  from holding Yobit BitCrystal USD or give up 56.98% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and Yobit BitCrystal
-0.38

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

Yobit BitCrystal USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCrystal USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.