Pair Correlation Between HitBTC Bancor and Yobit Pulse

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

HitBTC

Bancor Network Token on HitBTC in USD
 3.65 
(0.08)  2.14%
Market Cap: 1.1 M

Yobit

Pulse on Yobit in USD
 0.0195 
0.01555  393.67%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 163.67 times less return on investment than Yobit Pulse. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 328.0 times less risky than Yobit Pulse. It trades about 0.37 of its potential returns per unit of risk. Yobit Pulse USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.7  in Yobit Pulse USD on November 14, 2017 and sell it today you would lose (0.3)  from holding Yobit Pulse USD or give up 43.56% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Bancor and Yobit Pulse
0.28

Parameters

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

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Bancor Network

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.

Yobit Pulse USD

  
12 

Risk-Adjusted Performance

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