Pair Correlation Between Yobit EmberCoin and Yobit Carboncoin

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

Yobit

EmberCoin on Yobit in USD
 0.00017 
0.000009  5.59%
Market Cap: 2.5 K

Yobit

Carboncoin on Yobit in USD
 0.000515 
0.000182  54.65%
Market Cap: 4.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EmberCoin is expected to generate 1.3 times less return on investment than Yobit Carboncoin. In addition to that, Yobit EmberCoin is 1.05 times more volatile than Yobit Carboncoin USD. It trades about 0.22 of its total potential returns per unit of risk. Yobit Carboncoin USD is currently generating about 0.3 per unit of volatility. If you would invest  0.01  in Yobit Carboncoin USD on December 18, 2017 and sell it today you would earn a total of  0.04  from holding Yobit Carboncoin USD or generate 543.75% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit EmberCoin and Yobit Carboncoin
0.12

Parameters

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 EmberCoin USD and Yobit Carboncoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Carboncoin USD and Yobit EmberCoin 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 EmberCoin USD are associated (or correlated) with Yobit Carboncoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Carboncoin USD has no effect on the direction of Yobit EmberCoin i.e. Yobit EmberCoin and Yobit Carboncoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit EmberCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EmberCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit EmberCoin USD

Pair trading matchups for Yobit EmberCoin

Yobit Carboncoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Carboncoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

Yobit Carboncoin USD

Pair trading matchups for Yobit Carboncoin