Pair Correlation Between Yobit LeaCoin and Yobit PantherCoin

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

Yobit

LeaCoin on Yobit in USD
 0.0009 
(0.0007)  43.75%
Market Cap: 8.0

Yobit

PantherCoin on Yobit in USD
 0.00008 
(0.00029)  78.38%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit LeaCoin is expected to generate 1.15 times less return on investment than Yobit PantherCoin. In addition to that, Yobit LeaCoin is 1.12 times more volatile than Yobit PantherCoin USD. It trades about 0.23 of its total potential returns per unit of risk. Yobit PantherCoin USD is currently generating about 0.3 per unit of volatility. If you would invest  0.01  in Yobit PantherCoin USD on December 17, 2017 and sell it today you would earn a total of  0.02  from holding Yobit PantherCoin USD or generate 148.39% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit LeaCoin and Yobit PantherCoin
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 

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.

Yobit PantherCoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PantherCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.