Pair Correlation Between Yobit Creva and HitBTC BitConnect

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

Yobit

Creva Coin on Yobit in USD
 0.001111 
0.000144  14.89%
Market Cap: 3.0

HitBTC

BitConnect Coin on HitBTC in USD
 329 
(16)  4.64%
Market Cap: 9.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Creva is expected to generate 3.24782631427426E12 times less return on investment than HitBTC BitConnect. But when comparing it to its historical volatility, Yobit Creva Coin USD is 3.95092086961003E12 times less risky than HitBTC BitConnect. It trades about 0.22 of its potential returns per unit of risk. HitBTC BitConnect Coin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.00  in HitBTC BitConnect Coin USD on November 13, 2017 and sell it today you would earn a total of  32,900  from holding HitBTC BitConnect Coin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Creva and HitBTC BitConnect
-0.25

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 Creva Coin 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 Creva 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 Creva Coin 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 Creva i.e. Yobit Creva and HitBTC BitConnect go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Creva Coin

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Creva Coin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

HitBTC BitConnect Coin

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC BitConnect Coin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.