Pair Correlation Between Yobit ClubCoin and Yobit Waves

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

Yobit ClubCoin USD  vs.  Yobit Waves USD

Yobit

ClubCoin on Yobit in USD
 0.74 
0.22  42.02%
Market Cap: 195
  

Yobit

Waves on Yobit in USD
 5.10 
0.10  1.92%
Market Cap: 75 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 25.74 times more return on investment than Yobit Waves. However, Yobit ClubCoin is 25.74 times more volatile than Yobit Waves USD. It trades about 0.12 of its potential returns per unit of risk. Yobit Waves USD is currently generating about -0.14 per unit of risk. If you would invest  110.00  in Yobit ClubCoin USD on March 21, 2018 and sell it today you would lose (58.00)  from holding Yobit ClubCoin USD or give up 52.73% of portfolio value over 30 days.

Pair Corralation between Yobit ClubCoin and Yobit Waves

0.2
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit ClubCoin 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 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 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 ClubCoin i.e. Yobit ClubCoin and Yobit Waves go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Yobit Waves USD  
0 

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.

Yobit Waves USD

Pair trading matchups for Yobit Waves

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