Pair Correlation Between Yobit ClubCoin and HitBTC PeerCoin

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

Yobit

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

HitBTC

PeerCoin on HitBTC in USD
 3.66 
0.3  8.93%
Market Cap: 59.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 7.9 times more return on investment than HitBTC PeerCoin. However, Yobit ClubCoin is 7.9 times more volatile than HitBTC PeerCoin USD. It trades about 0.18 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about 0.36 per unit of risk. If you would invest  312  in Yobit ClubCoin USD on November 12, 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 PeerCoin
-0.55

Parameters

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

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit ClubCoin 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 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 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 ClubCoin i.e. Yobit ClubCoin and HitBTC PeerCoin 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 PeerCoin USD

  
23 

Risk-Adjusted Performance

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