Pair Correlation Between Yobit MaxCoin and HitBTC Stratis

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

Yobit MaxCoin USD  vs.  HitBTC Stratis USD

Yobit

MaxCoin on Yobit in USD
 0.07002 
0.02998  29.98%
Market Cap: 843
  

HitBTC

Stratis on HitBTC in USD
 5.85 
0.10  1.74%
Market Cap: 15.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to generate 8.68 times more return on investment than HitBTC Stratis. However, Yobit MaxCoin is 8.68 times more volatile than HitBTC Stratis USD. It trades about 0.16 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about -0.07 per unit of risk. If you would invest  4.90  in Yobit MaxCoin USD on March 20, 2018 and sell it today you would earn a total of  2.10  from holding Yobit MaxCoin USD or generate 42.9% return on investment over 30 days.

Pair Corralation between Yobit MaxCoin and HitBTC Stratis

-0.1
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit MaxCoin USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
HitBTC Stratis USD  
0 

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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