Pair Correlation Between HitBTC Komodo and Yobit MorpheusCoin

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


Komodo on HitBTC in USD
0.47  15.67%
Market Cap: 567


MorpheusCoin on Yobit in USD
0.023  62.16%
Market Cap: 167
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Komodo USD is expected to under-perform the Yobit MorpheusCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Komodo USD is 22.9 times less risky than Yobit MorpheusCoin. The crypto trades about -0.1 of its potential returns per unit of risk. The Yobit MorpheusCoin USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  3.10  in Yobit MorpheusCoin USD on February 18, 2018 and sell it today you would earn a total of  2.90  from holding Yobit MorpheusCoin USD or generate 93.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Komodo and Yobit MorpheusCoin


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Weak diversification

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

Comparative Volatility

 Predicted Return Density 

HitBTC Komodo USD


Risk-Adjusted Performance

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

Yobit MorpheusCoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MorpheusCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.