Pair Correlation Between Yobit BigUp and HitBTC NEM

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

Yobit

BigUp on Yobit in USD
 0.00029 
0.00015  107.14%
Market Cap: 140

HitBTC

NEM on HitBTC in USD
 0.99 
(0.0175)  1.73%
Market Cap: 21.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BigUp USD is expected to generate 12.87 times more return on investment than HitBTC NEM. However, Yobit BigUp is 12.87 times more volatile than HitBTC NEM USD. It trades about 0.26 of its potential returns per unit of risk. HitBTC NEM USD is currently generating about 0.1 per unit of risk. If you would invest  0.02  in Yobit BigUp USD on December 19, 2017 and sell it today you would earn a total of  0.01  from holding Yobit BigUp USD or generate 85.9% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BigUp and HitBTC NEM
0.54

Parameters

Time Period1 Month [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 Yobit BigUp USD and HitBTC NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC NEM USD and Yobit BigUp 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 Yobit BigUp USD are associated (or correlated) with HitBTC NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC NEM USD has no effect on the direction of Yobit BigUp i.e. Yobit BigUp and HitBTC NEM go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BigUp USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BigUp USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

HitBTC NEM USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC NEM USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

HitBTC NEM USD

Pair trading matchups for HitBTC NEM