Pair Correlation Between Yobit Bitcoin and Lykke Bitcoin

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

Yobit

Bitcoin on Yobit in USD
 16,250 
(409.75)  2.46%
Market Cap: 252 M
(249.75)

Lykke

Bitcoin on Lykke in USD
 16,500 
(730)  4.24%
Market Cap: 42.4 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcoin is expected to generate 1.03 times less return on investment than Lykke Bitcoin. In addition to that, Yobit Bitcoin is 1.14 times more volatile than Lykke Bitcoin USD. It trades about 0.36 of its total potential returns per unit of risk. Lykke Bitcoin USD is currently generating about 0.43 per unit of volatility. If you would invest  740,000  in Lykke Bitcoin USD on November 14, 2017 and sell it today you would earn a total of  983,000  from holding Lykke Bitcoin USD or generate 132.84% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitcoin and Lykke Bitcoin
0.97

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Bitcoin USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

Lykke Bitcoin USD

  
28 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Lykke Bitcoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.