Pair Correlation Between HitBTC Bancor and Yobit Bitshares

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


Bancor Network Token on HitBTC in USD
0.02  0.64%
Market Cap: 910 K


Bitshares on Yobit in USD
0.10  25.00%
Market Cap: 21.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to under-perform the Yobit Bitshares. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Bancor Network Token USD is 8.24 times less risky than Yobit Bitshares. The crypto trades about -0.35 of its potential returns per unit of risk. The Yobit Bitshares USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  100.00  in Yobit Bitshares USD on February 22, 2018 and sell it today you would lose (50.00)  from holding Yobit Bitshares USD or give up 50.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and Yobit Bitshares


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

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.

Yobit Bitshares USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitshares USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.