Pair Correlation Between HitBTC Stratis and Yobit TekCoin

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

HitBTC

Stratis on HitBTC in USD
 15.75 
(5.81)  26.95%
Market Cap: 14 M

Yobit

TekCoin on Yobit in USD
 0.000242 
(0.000069)  22.19%
Market Cap: 1.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Stratis is expected to generate 20.14 times less return on investment than Yobit TekCoin. But when comparing it to its historical volatility, HitBTC Stratis USD is 12.74 times less risky than Yobit TekCoin. It trades about 0.12 of its potential returns per unit of risk. Yobit TekCoin USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  0.02  in Yobit TekCoin USD on December 17, 2017 and sell it today you would earn a total of  0.01  from holding Yobit TekCoin USD or generate 65.43% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Stratis and Yobit TekCoin
0.69

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Stratis USD

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

Yobit TekCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit TekCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.