Pair Correlation Between HitBTC Verge and Yobit CometCoin

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

HitBTC Verge USD  vs.  Yobit CometCoin USD

HitBTC

Verge on HitBTC in USD
 0.06829 
0.00251  3.55%
Market Cap: 142 K
  

Yobit

CometCoin on Yobit in USD
 0.15 
0.0228  17.94%
Market Cap: 756
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Verge is expected to generate 4.82 times less return on investment than Yobit CometCoin. But when comparing it to its historical volatility, HitBTC Verge USD is 2.53 times less risky than Yobit CometCoin. It trades about 0.06 of its potential returns per unit of risk. Yobit CometCoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  18.00  in Yobit CometCoin USD on March 22, 2018 and sell it today you would lose (3.01)  from holding Yobit CometCoin USD or give up 16.72% of portfolio value over 30 days.

Pair Corralation between HitBTC Verge and Yobit CometCoin

0.4
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Verge USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Yobit CometCoin USD  
7 

Risk-Adjusted Performance

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

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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