Pair Correlation Between HitBTC DigiByte and Yobit ChronosCoin

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


DigiByte on HitBTC in USD
0.0013  6.53%
Market Cap: 6.3 K


ChronosCoin on Yobit in USD
0.0002  13.24%
Market Cap: 5.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC DigiByte USD is expected to under-perform the Yobit ChronosCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC DigiByte USD is 7.19 times less risky than Yobit ChronosCoin. The crypto trades about -0.47 of its potential returns per unit of risk. The Yobit ChronosCoin USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  0.28  in Yobit ChronosCoin USD on February 16, 2018 and sell it today you would lose (0.15)  from holding Yobit ChronosCoin USD or give up 53.05% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC DigiByte and Yobit ChronosCoin


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

HitBTC DigiByte USD


Risk-Adjusted Performance

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

Yobit ChronosCoin USD


Risk-Adjusted Performance

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