Pair Correlation Between Yobit BitBean and HitBTC PeerCoin

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

Yobit

BitBean on Yobit in USD
 0.035 
0.009  34.62%
Market Cap: 332

HitBTC

PeerCoin on HitBTC in USD
 3.16 
0.27  7.87%
Market Cap: 110.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 5.96 times more return on investment than HitBTC PeerCoin. However, Yobit BitBean is 5.96 times more volatile than HitBTC PeerCoin USD. It trades about 0.25 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about -0.18 per unit of risk. If you would invest  1.62  in Yobit BitBean USD on January 25, 2018 and sell it today you would earn a total of  1.88  from holding Yobit BitBean USD or generate 116.05% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitBean and HitBTC PeerCoin
0.38

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitBean USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Yobit BitBean USD

Pair trading matchups for Yobit BitBean

HitBTC PeerCoin USD

  
0 

Risk-Adjusted Performance

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

HitBTC PeerCoin USD

Pair trading matchups for HitBTC PeerCoin