Pair Correlation Between Yobit GeoCoin and Yobit LeaCoin

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

Yobit

GeoCoin on Yobit in USD
 7 
(1.2)  14.63%
Market Cap: 771

Yobit

LeaCoin on Yobit in USD
 0.0016 
0.0007  77.78%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit GeoCoin is expected to generate 1.39 times less return on investment than Yobit LeaCoin. But when comparing it to its historical volatility, Yobit GeoCoin USD is 1.33 times less risky than Yobit LeaCoin. It trades about 0.22 of its potential returns per unit of risk. Yobit LeaCoin USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  0.05  in Yobit LeaCoin USD on December 17, 2017 and sell it today you would earn a total of  0.04  from holding Yobit LeaCoin USD or generate 80.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit GeoCoin and Yobit LeaCoin
0.23

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Modest diversification

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

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit LeaCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.