Pair Correlation Between Yobit Mineum and Yobit DebitCoin

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

Yobit Mineum USD  vs.  Yobit DebitCoin USD

Yobit

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

Yobit

DebitCoin on Yobit in USD
 0.00495 
0.00  0.00%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Mineum USD is expected to generate 1.42 times more return on investment than Yobit DebitCoin. However, Yobit Mineum is 1.42 times more volatile than Yobit DebitCoin USD. It trades about 0.22 of its potential returns per unit of risk. Yobit DebitCoin USD is currently generating about 0.16 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 Yobit DebitCoin

0.65
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy24.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Risk-Adjusted Performance

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

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