Pair Correlation Between Yobit ClubCoin and HitBTC Bancor

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

Yobit

ClubCoin on Yobit in USD
 3.28 
(0.01)  0.3%
Market Cap: 4.6 K

HitBTC

Bancor Network Token on HitBTC in USD
 3.63 
0.33  10%
Market Cap: 1.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 10.71 times more return on investment than HitBTC Bancor. However, Yobit ClubCoin is 10.71 times more volatile than HitBTC Bancor Network Token USD. It trades about 0.18 of its potential returns per unit of risk. HitBTC Bancor Network Token USD is currently generating about 0.35 per unit of risk. If you would invest  312  in Yobit ClubCoin USD on November 13, 2017 and sell it today you would earn a total of  16  from holding Yobit ClubCoin USD or generate 5.13% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit ClubCoin and HitBTC Bancor
-0.27

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit ClubCoin USD

  
11 

Risk-Adjusted Performance

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

HitBTC Bancor Network

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.