Correlation Analysis Between HitBTC Verge and Yobit DebitCoin

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

HitBTC Verge USD  vs.  Yobit DebitCoin USD

HitBTC

Verge on HitBTC in USD
 0.05 
0.00122  2.28%
Market Cap: 29.9 K
  

Yobit

DebitCoin on Yobit in USD
 0.0025 
0.002299  47.91%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Verge USD is expected to under-perform the Yobit DebitCoin. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC Verge USD is 5.79 times less risky than Yobit DebitCoin. The crypto trades about -0.14 of its potential returns per unit of risk. The Yobit DebitCoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  0.50  in Yobit DebitCoin USD on April 22, 2018 and sell it today you would lose (0.25)  from holding Yobit DebitCoin USD or give up 49.49% of portfolio value over 30 days.

Pair Corralation between HitBTC Verge and Yobit DebitCoin

0.31
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
HitBTC Verge USD  
0 

Risk-Adjusted Performance

Over the last 30 days HitBTC Verge USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit DebitCoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1066.36

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