Correlation Analysis Between HitBTC Bancor and Yobit PrismChain

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

HitBTC Bancor Network Token US  vs.  Yobit PrismChain USD

HitBTC

Bancor Network Token on HitBTC in USD
 4.78 
0.01  0.21%
Market Cap: 1.4 M
  

Yobit

PrismChain on Yobit in USD
 0.00122 
0.000122  11.11%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 3.4 times less return on investment than Yobit PrismChain. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 5.1 times less risky than Yobit PrismChain. It trades about 0.16 of its potential returns per unit of risk. Yobit PrismChain USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  0.12  in Yobit PrismChain USD on April 20, 2018 and sell it today you would earn a total of  0.00  from holding Yobit PrismChain USD or generate 0.0% return on investment over 30 days.

Pair Corralation between HitBTC Bancor and Yobit PrismChain

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Bancor Network  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Yobit PrismChain USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PrismChain USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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My Current Equities and Potential Positions
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ExchangeNASDAQ
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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.