Pair Correlation Between Yobit Ratecoin and HitBTC ByteCoin |
This module allows you to analyze existing cross correlation between Yobit Ratecoin USD and HitBTC ByteCoin USD. You can compare the effects of market volatilities on Yobit Ratecoin and HitBTC ByteCoin 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 Ratecoin with a short position of HitBTC ByteCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Ratecoin and HitBTC ByteCoin.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
Yobit Ratecoin USD vs. HitBTC ByteCoin USD
YobitRatecoin on Yobit in USD 0.0016
| HitBTCByteCoin on HitBTC in USD 0.005104
|
Pair Volatility
Assuming 30 trading days horizon, Yobit Ratecoin USD is expected to generate 5.34 times more return on investment than HitBTC ByteCoin. However, Yobit Ratecoin is 5.34 times more volatile than HitBTC ByteCoin USD. It trades about 0.06 of its potential returns per unit of risk. HitBTC ByteCoin USD is currently generating about 0.05 per unit of risk. If you would invest 0.96 in Yobit Ratecoin USD on March 26, 2018 and sell it today you would lose (0.81) from holding Yobit Ratecoin USD or give up 84.33% of portfolio value over 30 days.
Pair Corralation between Yobit Ratecoin and HitBTC ByteCoin
0.31
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Very Weak |
| Accuracy | 98.36% |
| Values | Daily Returns |
Diversification
Weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ratecoin USD and HitBTC ByteCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ByteCoin USD and Yobit Ratecoin 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 Ratecoin USD are associated (or correlated) with HitBTC ByteCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ByteCoin USD has no effect on the direction of Yobit Ratecoin i.e. Yobit Ratecoin and HitBTC ByteCoin go up and down completely randomly.
Comparative Volatility
| Yobit Ratecoin USD |
4 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in Yobit Ratecoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Yobit Ratecoin USD
Pair trading matchups for Yobit Ratecoin
| HitBTC ByteCoin USD |
3 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
HitBTC ByteCoin USD
Pair trading matchups for HitBTC ByteCoin
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See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.