Pair Correlation Between Yobit Ratecoin and HitBTC DigitalNote

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

Yobit Ratecoin USD  vs.  HitBTC DigitalNote USD

Yobit

Ratecoin on Yobit in USD
 0.00152 
0.000016  1.06%
Market Cap: 1.0
  

HitBTC

DigitalNote on HitBTC in USD
 0.01415 
0.00005  0.35%
Market Cap: 471 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ratecoin USD is expected to generate 4.34 times more return on investment than HitBTC DigitalNote. However, Yobit Ratecoin is 4.34 times more volatile than HitBTC DigitalNote USD. It trades about 0.06 of its potential returns per unit of risk. HitBTC DigitalNote USD is currently generating about -0.02 per unit of risk. If you would invest  0.96  in Yobit Ratecoin USD on March 27, 2018 and sell it today you would lose (0.81)  from holding Yobit Ratecoin USD or give up 84.17% of portfolio value over 30 days.

Pair Corralation between Yobit Ratecoin and HitBTC DigitalNote

0.22
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Ratecoin USD  
4 

Risk-Adjusted Performance

Compared 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.
HitBTC DigitalNote USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1040.04

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.