Pair Correlation Between Yobit GeoCoin and HitBTC DigitalCash

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

Yobit

GeoCoin on Yobit in USD
 7.7 
(2.3)  23%
Market Cap: 12.6 K

HitBTC

DigitalCash on HitBTC in USD
 915.13 
(82.14)  8.24%
Market Cap: 3.5 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 24.05 times more return on investment than HitBTC DigitalCash. However, Yobit GeoCoin is 24.05 times more volatile than HitBTC DigitalCash USD. It trades about 0.24 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about 0.0 per unit of risk. If you would invest  110  in Yobit GeoCoin USD on December 17, 2017 and sell it today you would earn a total of  660  from holding Yobit GeoCoin USD or generate 600.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit GeoCoin and HitBTC DigitalCash
0.11

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy87.1%
ValuesDaily Returns

Diversification

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit GeoCoin 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 GeoCoin 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 GeoCoin 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 GeoCoin i.e. Yobit GeoCoin and HitBTC DigitalCash go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit GeoCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 15 (%) 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.