Correlation Analysis Between Yobit Influxcoin and Yobit Namecoin

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

Comparative Performance

Yobit Influxcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Influxcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Namecoin USD  
0

Risk-Adjusted Performance

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

Yobit Influxcoin and Yobit Namecoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Influxcoin USD  vs.  Yobit Namecoin USD

Yobit

Influxcoin on Yobit in USD

 0.01 
(0.019)  65.52%
Market Cap: 14.0
  

Yobit

Namecoin on Yobit in USD

 0.50 
0.03  6.38%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Influxcoin USD is expected to under-perform the Yobit Namecoin. In addition to that, Yobit Influxcoin is 4.33 times more volatile than Yobit Namecoin USD. It trades about -0.58 of its total potential returns per unit of risk. Yobit Namecoin USD is currently generating about -0.02 per unit of volatility. If you would invest  62.57  in Yobit Namecoin USD on November 18, 2018 and sell it today you would lose (12.57)  from holding Yobit Namecoin USD or give up 20.09% of portfolio value over 30 days.

Pair Corralation between Yobit Influxcoin and Yobit Namecoin

0.51
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy7.14%
ValuesDaily Returns

Diversification Opportunities for Yobit Influxcoin and Yobit Namecoin

Yobit Influxcoin USD diversification synergy

Very weak diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try CEO Directory module to screen ceos from public companies around the world.


 
Search macroaxis.com