Correlation Analysis Between Yobit Dogecoin and Yobit ClubCoin

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

Yobit Dogecoin USD  vs.  Yobit ClubCoin USD

Yobit

Dogecoin on Yobit in USD

 0.005921 
0.000025  0.42%
Market Cap: 530
  

Yobit

ClubCoin on Yobit in USD

 0.41 
0.00  0.00%
Market Cap: 50.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Dogecoin USD is expected to generate 0.92 times more return on investment than Yobit ClubCoin. However, Yobit Dogecoin USD is 1.09 times less risky than Yobit ClubCoin. It trades about 0.34 of its potential returns per unit of risk. Yobit ClubCoin USD is currently generating about 0.02 per unit of risk. If you would invest  0.25  in Yobit Dogecoin USD on August 27, 2018 and sell it today you would earn a total of  0.34  from holding Yobit Dogecoin USD or generate 138.05% return on investment over 30 days.

Pair Corralation between Yobit Dogecoin and Yobit ClubCoin

0.15
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Dogecoin USD  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dogecoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.
Yobit ClubCoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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