Pair Correlation Between Yobit EGOcoin and Yobit Ubiqoin

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

Yobit

EGOcoin on Yobit in USD
 0.002 
(0.00007)  3.38%
Market Cap: 0

Yobit

Ubiqoin on Yobit in USD
 0.00888 
(0.00258)  22.51%
Market Cap: 13.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EGOcoin USD is expected to generate 2.56 times more return on investment than Yobit Ubiqoin. However, Yobit EGOcoin is 2.56 times more volatile than Yobit Ubiqoin USD. It trades about 0.21 of its potential returns per unit of risk. Yobit Ubiqoin USD is currently generating about 0.19 per unit of risk. If you would invest  0.38  in Yobit EGOcoin USD on December 21, 2017 and sell it today you would lose (0.18)  from holding Yobit EGOcoin USD or give up 46.95% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit EGOcoin and Yobit Ubiqoin
-0.3

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit EGOcoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EGOcoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Yobit EGOcoin USD

Pair trading matchups for Yobit EGOcoin

Yobit Ubiqoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ubiqoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit Ubiqoin USD

Pair trading matchups for Yobit Ubiqoin