Pair Correlation Between HitBTC Stratis and Yobit Positron

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

HitBTC

Stratis on HitBTC in USD
 12.4 
1.27  11.41%
Market Cap: 10.5 M

Yobit

Positron on Yobit in USD
 12 
(5)  29.41%
Market Cap: 57.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Stratis is expected to generate 38.19 times less return on investment than Yobit Positron. But when comparing it to its historical volatility, HitBTC Stratis USD is 2.23 times less risky than Yobit Positron. It trades about 0.01 of its potential returns per unit of risk. Yobit Positron USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  600  in Yobit Positron USD on December 25, 2017 and sell it today you would earn a total of  600  from holding Yobit Positron USD or generate 100.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Stratis and Yobit Positron
0.16

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy93.33%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Stratis USD

  
0 

Risk-Adjusted Performance

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

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis

Yobit Positron USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Positron USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit Positron USD

Pair trading matchups for Yobit Positron