Pair Correlation Between Yobit MaxCoin and HitBTC Verge

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

Yobit MaxCoin USD  vs.  HitBTC Verge USD

Yobit

MaxCoin on Yobit in USD
 0.07412 
0.03108  29.54%
Market Cap: 1.2 K
  

HitBTC

Verge on HitBTC in USD
 0.07219 
0.00181  2.45%
Market Cap: 142 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to generate 4.74 times more return on investment than HitBTC Verge. However, Yobit MaxCoin is 4.74 times more volatile than HitBTC Verge USD. It trades about 0.17 of its potential returns per unit of risk. HitBTC Verge USD is currently generating about 0.05 per unit of risk. If you would invest  4.90  in Yobit MaxCoin USD on March 21, 2018 and sell it today you would earn a total of  5.62  from holding Yobit MaxCoin USD or generate 114.69% return on investment over 30 days.

Pair Corralation between Yobit MaxCoin and HitBTC Verge

0.83
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit MaxCoin USD and HitBTC Verge USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Verge 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 Verge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Verge USD has no effect on the direction of Yobit MaxCoin i.e. Yobit MaxCoin and HitBTC Verge 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 Verge USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1083.06

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