Pair Correlation Between Yobit BitCrystal and HitBTC BitConnect

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

Yobit

BitCrystal on Yobit in USD
 0.00037 
(0.00005)  11.9%
Market Cap: 169

HitBTC

BitConnect Coin on HitBTC in USD
 401.5 
1.5  0.38%
Market Cap: 9.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal USD is expected to generate 16.1 times more return on investment than HitBTC BitConnect. However, Yobit BitCrystal is 16.1 times more volatile than HitBTC BitConnect Coin USD. It trades about 0.21 of its potential returns per unit of risk. HitBTC BitConnect Coin USD is currently generating about 0.16 per unit of risk. If you would invest  0.1  in Yobit BitCrystal USD on November 16, 2017 and sell it today you would lose (0.06)  from holding Yobit BitCrystal USD or give up 63.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCrystal and HitBTC BitConnect
0.23

Parameters

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

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitCrystal USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCrystal USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

HitBTC BitConnect Coin

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC BitConnect Coin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.