Pair Correlation Between HitBTC Verge and Yobit BitstarCoin

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

HitBTC

Verge on HitBTC in USD
 0.09179 
(0.02531)  21.61%
Market Cap: 413 K

Yobit

BitstarCoin on Yobit in USD
 0.16 
0.09  128.57%
Market Cap: 34.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Verge is expected to generate 20.93 times less return on investment than Yobit BitstarCoin. But when comparing it to its historical volatility, HitBTC Verge USD is 11.6 times less risky than Yobit BitstarCoin. It trades about 0.19 of its potential returns per unit of risk. Yobit BitstarCoin USD is currently generating about 0.34 of returns per unit of risk over similar time horizon. If you would invest  2.21  in Yobit BitstarCoin USD on December 17, 2017 and sell it today you would earn a total of  4.89  from holding Yobit BitstarCoin USD or generate 221.85% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Verge and Yobit BitstarCoin
0.1

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy80.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

HitBTC Verge USD

  
12 

Risk-Adjusted Performance

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

Yobit BitstarCoin USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitstarCoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.