Pair Correlation Between Yobit Positron and HitBTC Stratis

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

Yobit

Positron on Yobit in USD
 12 
(6.1)  33.7%
Market Cap: 132

HitBTC

Stratis on HitBTC in USD
 11.92 
(3.33)  21.84%
Market Cap: 10.5 M
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  1,192  in HitBTC Stratis USD on December 22, 2017 and sell it today you would earn a total of  0.00  from holding HitBTC Stratis USD or generate 0.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Positron 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 Positron 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 Positron 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 Positron 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 Positron i.e. Yobit Positron and HitBTC Stratis go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Positron USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Positron USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit Positron USD

Pair trading matchups for Yobit Positron

HitBTC Stratis USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

HitBTC Stratis USD

Pair trading matchups for HitBTC Stratis