Pair Correlation Between HitBTC Stratis and Yobit SkullBuzz

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

HitBTC

Stratis on HitBTC in USD
 14.43 
0.3  2.12%
Market Cap: 14 M

Yobit

SkullBuzz on Yobit in USD
 0.11 
0.0088  8.7%
Market Cap: 100.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Stratis USD is expected to generate 0.34 times more return on investment than Yobit SkullBuzz. However, HitBTC Stratis USD is 2.97 times less risky than Yobit SkullBuzz. It trades about 0.13 of its potential returns per unit of risk. Yobit SkullBuzz USD is currently generating about 0.02 per unit of risk. If you would invest  1,150  in HitBTC Stratis USD on December 20, 2017 and sell it today you would earn a total of  310  from holding HitBTC Stratis USD or generate 26.96% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Stratis and Yobit SkullBuzz
-0.11

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Stratis USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis

Yobit SkullBuzz USD

  
1 

Risk-Adjusted Performance

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

Yobit SkullBuzz USD

Pair trading matchups for Yobit SkullBuzz