Pair Correlation Between HitBTC DigiByte and Yobit eMark

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


DigiByte on HitBTC in USD
0.0006  2.50%
Market Cap: 4.8 K


eMark on Yobit in USD
0.00438  21.88%
Market Cap: 10.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC DigiByte USD is expected to under-perform the Yobit eMark. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC DigiByte USD is 4.67 times less risky than Yobit eMark. The crypto trades about -0.18 of its potential returns per unit of risk. The Yobit eMark USD is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest  4.60  in Yobit eMark USD on February 23, 2018 and sell it today you would lose (2.60)  from holding Yobit eMark USD or give up 56.48% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC DigiByte and Yobit eMark


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


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit eMark USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.