Correlation Analysis Between HitBTC Ardor and Yobit NEM

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

HitBTC Ardor USD  
00

Risk-Adjusted Performance

Over the last 30 days HitBTC Ardor USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, HitBTC Ardor is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Yobit NEM USD  
00

Risk-Adjusted Performance

Over the last 30 days Yobit NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Yobit NEM is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.

HitBTC Ardor and Yobit NEM Volatility Contrast

HitBTC Ardor USD  vs.  Yobit NEM USD

HitBTC

Ardor on HitBTC in USD

 0.06 
0.00  0.00%
Market Cap: 5.0
  

Yobit

NEM on Yobit in USD

 0.04355 
0.00  0.00%
Market Cap: 38.0
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest (100.00)  in Yobit NEM USD on August 18, 2019 and sell it today you would earn a total of  100.00  from holding Yobit NEM USD or generate -100.0% return on investment over 30 days.

Pair Corralation between HitBTC Ardor and Yobit NEM

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for HitBTC Ardor and Yobit NEM

HitBTC Ardor USD diversification synergy

Pay attention

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