Pair Correlation Between Yobit Golem and HitBTC Stratis

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

Yobit

Golem Network Token on Yobit in USD
 0.8 
0.015  1.92%
Market Cap: 395

HitBTC

Stratis on HitBTC in USD
 16.35 
1.12  7.35%
Market Cap: 14 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Golem is expected to generate 1.32 times less return on investment than HitBTC Stratis. In addition to that, Yobit Golem is 1.11 times more volatile than HitBTC Stratis USD. It trades about 0.12 of its total potential returns per unit of risk. HitBTC Stratis USD is currently generating about 0.18 per unit of volatility. If you would invest  1,032  in HitBTC Stratis USD on December 21, 2017 and sell it today you would earn a total of  561  from holding HitBTC Stratis USD or generate 54.36% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Golem and HitBTC Stratis
0.55

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Golem Network

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

Yobit Golem Network Token USD

Pair trading matchups for Yobit Golem

HitBTC Stratis USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis