Correlation Analysis Between Yobit ClubCoin and Yobit Dogecoin

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

Yobit ClubCoin USD  vs.  Yobit Dogecoin USD

Yobit

ClubCoin on Yobit in USD

 1.03 
0.02  1.98%
Market Cap: 82.0
  

Yobit

Dogecoin on Yobit in USD

 0.0048 
0.00024  5.26%
Market Cap: 562
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 8.9 times more return on investment than Yobit Dogecoin. However, Yobit ClubCoin is 8.9 times more volatile than Yobit Dogecoin USD. It trades about 0.22 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about -0.32 per unit of risk. If you would invest  40.32  in Yobit ClubCoin USD on September 20, 2018 and sell it today you would earn a total of  48.76  from holding Yobit ClubCoin USD or generate 120.93% return on investment over 30 days.

Pair Corralation between Yobit ClubCoin and Yobit Dogecoin

-0.82
Time Period1 Month [change]
DirectionNegative 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.
Yobit Dogecoin USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1115.69

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.


 
Search macroaxis.com