Pair Correlation Between HitBTC PeerCoin and Yobit Dogecoin

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

HitBTC PeerCoin USD  vs.  Yobit Dogecoin USD

HitBTC

PeerCoin on HitBTC in USD
 2.55 
0.03  1.19%
Market Cap: 34.5 K
  

Yobit

Dogecoin on Yobit in USD
 0.00565 
0.000022  0.39%
Market Cap: 266
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC PeerCoin USD is expected to under-perform the Yobit Dogecoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC PeerCoin USD is 1.18 times less risky than Yobit Dogecoin. The crypto trades about -0.06 of its potential returns per unit of risk. The Yobit Dogecoin USD is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest  0.69  in Yobit Dogecoin USD on March 24, 2018 and sell it today you would lose (0.12)  from holding Yobit Dogecoin USD or give up 17.81% of portfolio value over 30 days.

Pair Corralation between HitBTC PeerCoin and Yobit Dogecoin

0.72
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy96.72%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC PeerCoin USD  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.