Correlation Analysis Between Yobit DebitCoin and HitBTC DigitalCash

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

Yobit DebitCoin USD  vs.  HitBTC DigitalCash USD

Yobit

DebitCoin on Yobit in USD
 0.004077 
0.000001  0.0245%
Market Cap: 0
  

HitBTC

DigitalCash on HitBTC in USD
 319.90 
19.46  5.73%
Market Cap: 2.3 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to generate 7.38 times more return on investment than HitBTC DigitalCash. However, Yobit DebitCoin is 7.38 times more volatile than HitBTC DigitalCash USD. It trades about 0.09 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.36 per unit of risk. If you would invest  0.50  in Yobit DebitCoin USD on April 26, 2018 and sell it today you would lose (0.09)  from holding Yobit DebitCoin USD or give up 17.64% of portfolio value over 30 days.

Pair Corralation between Yobit DebitCoin and HitBTC DigitalCash

0.21
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit DebitCoin USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
HitBTC DigitalCash USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1079.69

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.