Pair Correlation Between HitBTC DigitalCash and Yobit SibCoin

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

HitBTC DigitalCash USD  vs.  Yobit SibCoin USD

HitBTC

DigitalCash on HitBTC in USD
 480.65 
52.95  9.92%
Market Cap: 1.3 B
  

Yobit

SibCoin on Yobit in USD
 1.25 
0.08  6.01%
Market Cap: 3.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC DigitalCash USD is expected to under-perform the Yobit SibCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC DigitalCash USD is 1.85 times less risky than Yobit SibCoin. The crypto trades about -0.02 of its potential returns per unit of risk. The Yobit SibCoin USD is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest  200.00  in Yobit SibCoin USD on March 26, 2018 and sell it today you would lose (67.00)  from holding Yobit SibCoin USD or give up 33.5% of portfolio value over 30 days.

Pair Corralation between HitBTC DigitalCash and Yobit SibCoin

0.8
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.36%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC DigitalCash USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit SibCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit SibCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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