Pair Correlation Between Yobit Carboncoin and Yobit Waves

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


Carboncoin on Yobit in USD
(0.0000001)  0.0149%
Market Cap: 360


Waves on Yobit in USD
0.9  9.59%
Market Cap: 659.3 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Carboncoin USD is expected to generate 6.46 times more return on investment than Yobit Waves. However, Yobit Carboncoin is 6.46 times more volatile than Yobit Waves USD. It trades about 0.3 of its potential returns per unit of risk. Yobit Waves USD is currently generating about -0.17 per unit of risk. If you would invest  0.01  in Yobit Carboncoin USD on December 19, 2017 and sell it today you would earn a total of  0.05  from holding Yobit Carboncoin USD or generate 512.24% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Carboncoin and Yobit Waves


Time Period1 Month [change]
ValuesDaily Returns


Average diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit Carboncoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Carboncoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

Yobit Carboncoin USD

Pair trading matchups for Yobit Carboncoin

Yobit Waves USD


Risk-Adjusted Performance

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