Pair Correlation Between Yobit BeardDollars and HitBTC ByteCoin

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


BeardDollars on Yobit in USD
0.000001  0.0196%
Market Cap: 1.0


ByteCoin on HitBTC in USD
0.0002  7.39%
Market Cap: 14.2 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit BeardDollars USD is expected to generate 9.36 times more return on investment than HitBTC ByteCoin. However, Yobit BeardDollars is 9.36 times more volatile than HitBTC ByteCoin USD. It trades about 0.18 of its potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about -0.44 per unit of risk. If you would invest  0.30  in Yobit BeardDollars USD on February 15, 2018 and sell it today you would earn a total of  0.21  from holding Yobit BeardDollars USD or generate 70.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BeardDollars and HitBTC ByteCoin


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit BeardDollars USD


Risk-Adjusted Performance

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

HitBTC ByteCoin USD


Risk-Adjusted Performance

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