Pair Correlation Between Yobit Bitcoin and TheRockTrading Bitcoin

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

Yobit

Bitcoin on Yobit in USD
 16,650 
1,531  10.13%
Market Cap: 252 M
 250 

TheRockTrading

Bitcoin on TheRockTrading in USD
 16,400 
1,500  10.07%
Market Cap: 144.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcoin is expected to generate 1.02 times less return on investment than TheRockTrading Bitcoin. In addition to that, Yobit Bitcoin is 1.14 times more volatile than TheRockTrading Bitcoin USD. It trades about 0.45 of its total potential returns per unit of risk. TheRockTrading Bitcoin USD is currently generating about 0.52 per unit of volatility. If you would invest  597,086  in TheRockTrading Bitcoin USD on November 11, 2017 and sell it today you would earn a total of  1,042,914  from holding TheRockTrading Bitcoin USD or generate 174.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitcoin and TheRockTrading Bitcoin
0.99

Parameters

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

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Bitcoin USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.

TheRockTrading Bitcoin

  
34 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TheRockTrading Bitcoin USD are ranked lower than 34 (%) of all global equities and portfolios over the last 30 days.