Correlation Analysis Between Coinbase Bitcoin and Yobit MaxCoin

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

Coinbase Bitcoin USD  vs.  Yobit MaxCoin USD

Coinbase

Bitcoin on Coinbase in USD

 6,400 
48.99  0.76%
Market Cap: 51.6 B
  

Yobit

MaxCoin on Yobit in USD

 0.028 
0.006  17.65%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 371.58 times less return on investment than Yobit MaxCoin. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 14.47 times less risky than Yobit MaxCoin. It trades about 0.0 of its potential returns per unit of risk. Yobit MaxCoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  2.50  in Yobit MaxCoin USD on September 18, 2018 and sell it today you would earn a total of  0.30  from holding Yobit MaxCoin USD or generate 12.0% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and Yobit MaxCoin

-0.07
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
0 

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 MaxCoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1092.25

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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