Pair Correlation Between Yobit Mineum and HitBTC Verge

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

Yobit

Mineum on Yobit in USD
 0.14 
0.05439  67.06%
Market Cap: 34.0

HitBTC

Verge on HitBTC in USD
 0.09712 
(0.00025)  0.26%
Market Cap: 76.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Mineum USD is expected to generate 7.03 times more return on investment than HitBTC Verge. However, Yobit Mineum is 7.03 times more volatile than HitBTC Verge USD. It trades about 0.21 of its potential returns per unit of risk. HitBTC Verge USD is currently generating about 0.01 per unit of risk. If you would invest  50  in Yobit Mineum USD on December 25, 2017 and sell it today you would lose (33)  from holding Yobit Mineum USD or give up 66.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Mineum and HitBTC Verge
-0.57

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy66.67%
ValuesDaily Returns

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Mineum USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Mineum USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

HitBTC Verge USD

  
0 

Risk-Adjusted Performance

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