Correlation Analysis Between Yobit MaxCoin and Yobit Influxcoin

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

Comparative Performance

Yobit MaxCoin USD  
0

Risk-Adjusted Performance

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

 Predicted Return Density 
      Returns 

Yobit MaxCoin USD  vs.  Yobit Influxcoin USD

Yobit

MaxCoin on Yobit in USD

 0.0085 
0.000907  11.95%
Market Cap: 2.0
  

Yobit

Influxcoin on Yobit in USD

 0.01 
(0.019)  65.52%
Market Cap: 14.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to generate 0.35 times more return on investment than Yobit Influxcoin. However, Yobit MaxCoin USD is 2.83 times less risky than Yobit Influxcoin. It trades about -0.15 of its potential returns per unit of risk. Yobit Influxcoin USD is currently generating about -0.58 per unit of risk. If you would invest  3.00  in Yobit MaxCoin USD on November 18, 2018 and sell it today you would lose (2.15)  from holding Yobit MaxCoin USD or give up 71.7% of portfolio value over 30 days.

Pair Corralation between Yobit MaxCoin and Yobit Influxcoin

0.73
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy7.14%
ValuesDaily Returns

Diversification Opportunities for Yobit MaxCoin and Yobit Influxcoin

Yobit MaxCoin USD diversification synergy

Poor diversification

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

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