Pair Correlation Between Yobit HempCoin and Yobit Decred

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

Yobit

HempCoin on Yobit in USD
 0.00015 
(0.00001)  6.25%
Market Cap: 1.7 K

Yobit

Decred on Yobit in USD
 110.46 
(0.54)  0.49%
Market Cap: 427.8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit HempCoin USD is expected to generate 10.33 times more return on investment than Yobit Decred. However, Yobit HempCoin is 10.33 times more volatile than Yobit Decred USD. It trades about 0.19 of its potential returns per unit of risk. Yobit Decred USD is currently generating about 0.11 per unit of risk. If you would invest  0.01  in Yobit HempCoin USD on December 22, 2017 and sell it today you would earn a total of  0.01  from holding Yobit HempCoin USD or generate 78.57% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit HempCoin and Yobit Decred
0.53

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit HempCoin 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 HempCoin 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 HempCoin 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 HempCoin i.e. Yobit HempCoin and Yobit Decred go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit HempCoin USD

  
12 

Risk-Adjusted Performance

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

Yobit HempCoin USD

Pair trading matchups for Yobit HempCoin

Yobit Decred USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Decred USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Yobit Decred USD

Pair trading matchups for Yobit Decred