Correlation Analysis Between Coinbase Bitcoin and Yobit BitTokens

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

Coinbase Bitcoin USD  vs.  Yobit BitTokens USD


Bitcoin on Coinbase in USD

27.56  0.50%
Market Cap: 42.5 B


BitTokens on Yobit in USD

0.22  87.56%
Market Cap: 2.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the Yobit BitTokens. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 52.3 times less risky than Yobit BitTokens. The crypto trades about -0.2 of its potential returns per unit of risk. The Yobit BitTokens USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  55.00  in Yobit BitTokens USD on October 18, 2018 and sell it today you would lose (8.11)  from holding Yobit BitTokens USD or give up 14.75% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and Yobit BitTokens

Time Period1 Month [change]
ValuesDaily Returns


Coinbase Bitcoin USD diversification synergy

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
Coinbase Bitcoin USD  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitTokens USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.