Correlation Analysis Between Coinbase Bitcoin and Yobit Namecoin

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

Coinbase Bitcoin USD  vs.  Yobit Namecoin USD

Coinbase

Bitcoin on Coinbase in USD

 6,736 
9.93  0.15%
Market Cap: 176.3 B
  

Yobit

Namecoin on Yobit in USD

 0.84 
0.16  23.28%
Market Cap: 24.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 12.17 times less return on investment than Yobit Namecoin. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 4.52 times less risky than Yobit Namecoin. It trades about 0.05 of its potential returns per unit of risk. Yobit Namecoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  70.00  in Yobit Namecoin USD on August 23, 2018 and sell it today you would earn a total of  13.84  from holding Yobit Namecoin USD or generate 19.77% return on investment over 30 days.

Pair Corralation between Coinbase Bitcoin and Yobit Namecoin

0.37
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.65%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Yobit Namecoin USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Namecoin USD are ranked lower than 8 (%) 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
$1171.09

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