Pair Correlation Between HitBTC Verge and Yobit PoSWallet

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

HitBTC

Verge on HitBTC in USD
 0.09737 
0.00215  2.26%
Market Cap: 76.7 K

Yobit

PoSWallet on Yobit in USD
 0.52 
(0.29)  35.72%
Market Cap: 62.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, HitBTC Verge is expected to generate 25.19 times less return on investment than Yobit PoSWallet. But when comparing it to its historical volatility, HitBTC Verge USD is 1.42 times less risky than Yobit PoSWallet. It trades about 0.01 of its potential returns per unit of risk. Yobit PoSWallet USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  34.1  in Yobit PoSWallet USD on December 25, 2017 and sell it today you would earn a total of  17.9  from holding Yobit PoSWallet USD or generate 52.49% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC Verge and Yobit PoSWallet
0.44

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
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 PoSWallet USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit PoSWallet 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 PoSWallet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit PoSWallet USD has no effect on the direction of HitBTC Verge i.e. HitBTC Verge and Yobit PoSWallet 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 PoSWallet USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PoSWallet USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Yobit PoSWallet USD

Pair trading matchups for Yobit PoSWallet