Pair Correlation Between Yobit GeoCoin and Coinbase Bitcoin

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

Yobit GeoCoin USD  vs.  Coinbase Bitcoin USD

Yobit

GeoCoin on Yobit in USD
 0.14 
0.0657  93.86%
Market Cap: 54.0
  

Coinbase

Bitcoin on Coinbase in USD
 8,767 
78.84  0.89%
Market Cap: 615.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 7.44 times more return on investment than Coinbase Bitcoin. However, Yobit GeoCoin is 7.44 times more volatile than Coinbase Bitcoin USD. It trades about 0.07 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest  61.10  in Yobit GeoCoin USD on March 22, 2018 and sell it today you would lose (47.53)  from holding Yobit GeoCoin USD or give up 77.79% of portfolio value over 30 days.

Pair Corralation between Yobit GeoCoin and Coinbase Bitcoin

0.64
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit GeoCoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.