Correlation Analysis Between HitBTC Bancor and Yobit Rimbit

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

HitBTC Bancor Network Token US  vs.  Yobit Rimbit USD

HitBTC

Bancor Network Token on HitBTC in USD
 4.39 
0.29  6.20%
Market Cap: 1.4 M
  

Yobit

Rimbit on Yobit in USD
 0.001104 
0.000145  11.61%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 18.03 times less return on investment than Yobit Rimbit. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 8.84 times less risky than Yobit Rimbit. It trades about 0.05 of its potential returns per unit of risk. Yobit Rimbit USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  0.26  in Yobit Rimbit USD on April 22, 2018 and sell it today you would lose (0.15)  from holding Yobit Rimbit USD or give up 56.91% of portfolio value over 30 days.

Pair Corralation between HitBTC Bancor and Yobit Rimbit

0.36
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 Rimbit USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Rimbit 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 Rimbit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Rimbit USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and Yobit Rimbit go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Bancor Network  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Yobit Rimbit USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1069.73

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.