Correlation Analysis Between Yobit ClubCoin and Yobit MaxCoin

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

Yobit ClubCoin USD  vs.  Yobit MaxCoin USD

Yobit

ClubCoin on Yobit in USD

 0.34 
0.0139  4.32%
Market Cap: 113
  

Yobit

MaxCoin on Yobit in USD

 0.007999 
0.000793  11.00%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to under-perform the Yobit MaxCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit ClubCoin USD is 1.12 times less risky than Yobit MaxCoin. The crypto trades about -0.2 of its potential returns per unit of risk. The Yobit MaxCoin USD is currently generating about -0.17 of returns per unit of risk over similar time horizon. If you would invest  3.50  in Yobit MaxCoin USD on November 12, 2018 and sell it today you would lose (2.70)  from holding Yobit MaxCoin USD or give up 77.15% of portfolio value over 30 days.

Pair Corralation between Yobit ClubCoin and Yobit MaxCoin

0.88
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Yobit  ClubCoin USD diversification synergy

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Yobit ClubCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit MaxCoin USD  
0

Risk-Adjusted Performance

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

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