Pair Correlation Between HitBTC DigiByte and Yobit DebitCoin

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


DigiByte on HitBTC in USD
0.0008  3.40%
Market Cap: 4.8 K


DebitCoin on Yobit in USD
0.003226  93.67%
Market Cap: 0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC DigiByte USD is expected to under-perform the Yobit DebitCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC DigiByte USD is 5.4 times less risky than Yobit DebitCoin. The crypto trades about -0.17 of its potential returns per unit of risk. The Yobit DebitCoin USD is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  1.00  in Yobit DebitCoin USD on February 22, 2018 and sell it today you would lose (0.33)  from holding Yobit DebitCoin USD or give up 33.3% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC DigiByte and Yobit DebitCoin


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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


Risk-Adjusted Performance

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