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.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Yobit ClubCoin USD  vs   HitBTC Bancor Network Token US

Yobit

ClubCoin on Yobit in USD
 1.63 
0.63  63.00%
Market Cap: 364

HitBTC

Bancor Network Token on HitBTC in USD
 4.96 
0.22  4.25%
Market Cap: 581.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 5.8 times more return on investment than HitBTC Bancor. However, Yobit ClubCoin is 5.8 times more volatile than HitBTC Bancor Network Token USD. It trades about 0.13 of its potential returns per unit of risk. HitBTC Bancor Network Token USD is currently generating about -0.15 per unit of risk. If you would invest  200.00  in Yobit ClubCoin USD on January 25, 2018 and sell it today you would lose (37.00)  from holding Yobit ClubCoin USD or give up 18.5% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit ClubCoin and HitBTC Bancor
-0.27

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
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

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Yobit ClubCoin USD

Pair trading matchups for Yobit ClubCoin

HitBTC Bancor Network

  
0 

Risk-Adjusted Performance

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

HitBTC Bancor Network Token USD

Pair trading matchups for HitBTC Bancor