Pair Correlation Between Yobit Mineum and Coinbase Bitcoin

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

Yobit Mineum USD  vs.  Coinbase Bitcoin USD

Yobit

Mineum on Yobit in USD
 0.031 
0.00  0.00%
Market Cap: 1.0
  

Coinbase

Bitcoin on Coinbase in USD
 8,176 
5.00  0.0611%
Market Cap: 615.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Mineum USD is expected to generate 15.9 times more return on investment than Coinbase Bitcoin. However, Yobit Mineum is 15.9 times more volatile than Coinbase Bitcoin USD. It trades about 0.22 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.08 per unit of risk. If you would invest  3.80  in Yobit Mineum USD on March 20, 2018 and sell it today you would lose (0.70)  from holding Yobit Mineum USD or give up 18.42% of portfolio value over 30 days.

Pair Corralation between Yobit Mineum and Coinbase Bitcoin

0.54
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy20.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Mineum USD  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.08

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.