Correlation Analysis Between Yobit ClubCoin and Yobit Namecoin

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

Yobit ClubCoin USD  vs.  Yobit Namecoin USD

Yobit

ClubCoin on Yobit in USD

 0.46 
0.06  14.71%
Market Cap: 50.0
  

Yobit

Namecoin on Yobit in USD

 0.60 
0.18  22.60%
Market Cap: 24.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 1.02 times more return on investment than Yobit Namecoin. However, Yobit ClubCoin is 1.02 times more volatile than Yobit Namecoin USD. It trades about 0.05 of its potential returns per unit of risk. Yobit Namecoin USD is currently generating about 0.04 per unit of risk. If you would invest  50.00  in Yobit ClubCoin USD on August 25, 2018 and sell it today you would lose (3.75)  from holding Yobit ClubCoin USD or give up 7.5% of portfolio value over 30 days.

Pair Corralation between Yobit ClubCoin and Yobit Namecoin

-0.18
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Yobit Namecoin USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Namecoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1166.09

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