Pair Correlation Between Yobit GeoCoin and Yobit Decred

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

Yobit

GeoCoin on Yobit in USD
 6.7 
(0.3)  4.29%
Market Cap: 771

Yobit

Decred on Yobit in USD
 97.6 
7.6  8.44%
Market Cap: 427.8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 21.12 times more return on investment than Yobit Decred. However, Yobit GeoCoin is 21.12 times more volatile than Yobit Decred USD. It trades about 0.23 of its potential returns per unit of risk. Yobit Decred USD is currently generating about 0.02 per unit of risk. If you would invest  110  in Yobit GeoCoin USD on December 18, 2017 and sell it today you would earn a total of  560  from holding Yobit GeoCoin USD or generate 509.09% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit GeoCoin and Yobit Decred
0.62

Parameters

Time Period1 Month [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 Yobit Decred USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Decred 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 Yobit Decred. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Decred USD has no effect on the direction of Yobit GeoCoin i.e. Yobit GeoCoin and Yobit Decred go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit GeoCoin USD

  
14 

Risk-Adjusted Performance

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

Yobit GeoCoin USD

Pair trading matchups for Yobit GeoCoin

Yobit Decred USD

  
1 

Risk-Adjusted Performance

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

Yobit Decred USD

Pair trading matchups for Yobit Decred