Pair Correlation Between HitBTC Bancor and Yobit Lisk

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

HitBTC

Bancor Network Token on HitBTC in USD
 3.26 
0.46  16.43%
Market Cap: 1.1 M

Yobit

Lisk on Yobit in USD
 8.55 
0.34  4.14%
Market Cap: 12.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to generate 0.68 times more return on investment than Yobit Lisk. However, HitBTC Bancor Network Token USD is 1.47 times less risky than Yobit Lisk. It trades about 0.32 of its potential returns per unit of risk. Yobit Lisk USD is currently generating about 0.18 per unit of risk. If you would invest  186  in HitBTC Bancor Network Token USD on November 12, 2017 and sell it today you would earn a total of  112  from holding HitBTC Bancor Network Token USD or generate 60.22% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and Yobit Lisk
-0.63

Parameters

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

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
21 

Risk-Adjusted Performance

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

Yobit Lisk USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Lisk USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.