Correlation Analysis Between Yobit CometCoin and Yobit Dogecoin

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

Yobit CometCoin USD  vs.  Yobit Dogecoin USD


CometCoin on Yobit in USD

0.0011  4.41%
Market Cap: 11.0


Dogecoin on Yobit in USD

0.000343  7.24%
Market Cap: 562
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit CometCoin USD is expected to generate 15.52 times more return on investment than Yobit Dogecoin. However, Yobit CometCoin is 15.52 times more volatile than Yobit Dogecoin USD. It trades about 0.16 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about -0.45 per unit of risk. If you would invest  3.00  in Yobit CometCoin USD on September 18, 2018 and sell it today you would lose (0.62)  from holding Yobit CometCoin USD or give up 20.53% of portfolio value over 30 days.

Pair Corralation between Yobit CometCoin and Yobit Dogecoin

Time Period1 Month [change]
ValuesDaily Returns


Good diversification

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

Comparative Volatility

 Predicted Return Density 
Yobit CometCoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CometCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Yobit Dogecoin USD  

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.

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