Pair Correlation Between Yobit SibCoin and HitBTC DigitalCash

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

Yobit SibCoin USD  vs.  HitBTC DigitalCash USD

Yobit

SibCoin on Yobit in USD
 1.20 
0.13  9.77%
Market Cap: 3.0
  

HitBTC

DigitalCash on HitBTC in USD
 533.60 
64.68  13.79%
Market Cap: 1.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SibCoin USD is expected to under-perform the HitBTC DigitalCash. In addition to that, Yobit SibCoin is 1.81 times more volatile than HitBTC DigitalCash USD. It trades about -0.05 of its total potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.05 per unit of volatility. If you would invest  63,114  in HitBTC DigitalCash USD on March 27, 2018 and sell it today you would lose (16,222)  from holding HitBTC DigitalCash USD or give up 25.7% of portfolio value over 30 days.

Pair Corralation between Yobit SibCoin and HitBTC DigitalCash

0.81
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 SibCoin 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 SibCoin 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 SibCoin 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 SibCoin i.e. Yobit SibCoin and HitBTC DigitalCash go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit SibCoin USD  
0 

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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