Correlation Analysis Between HitBTC Bancor and Yobit MaxCoin

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

HitBTC Bancor Network Token US  vs.  Yobit MaxCoin USD

HitBTC

Bancor Network Token on HitBTC in USD
 3.90 
0.08  2.01%
Market Cap: 1.3 M
  

Yobit

MaxCoin on Yobit in USD
 0.06 
0.014  20.00%
Market Cap: 290
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to under-perform the Yobit MaxCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Bancor Network Token USD is 5.32 times less risky than Yobit MaxCoin. The crypto trades about -0.06 of its potential returns per unit of risk. The Yobit MaxCoin USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  8.74  in Yobit MaxCoin USD on April 25, 2018 and sell it today you would lose (3.14)  from holding Yobit MaxCoin USD or give up 35.93% of portfolio value over 30 days.

Pair Corralation between HitBTC Bancor and Yobit MaxCoin

0.33
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Bancor Network  
0 

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 MaxCoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1076.63

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