Correlation Analysis Between Yobit Namecoin and Yobit Waves

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

Yobit Namecoin USD  vs.  Yobit Waves USD

Yobit

Namecoin on Yobit in USD
 1.05 
0.29  21.64%
Market Cap: 211
  

Yobit

Waves on Yobit in USD
 3.00 
0.03  1.01%
Market Cap: 9.8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Namecoin USD is expected to generate 3.01 times more return on investment than Yobit Waves. However, Yobit Namecoin is 3.01 times more volatile than Yobit Waves USD. It trades about 0.01 of its potential returns per unit of risk. Yobit Waves USD is currently generating about -0.04 per unit of risk. If you would invest  130.00  in Yobit Namecoin USD on June 21, 2018 and sell it today you would lose (25.00)  from holding Yobit Namecoin USD or give up 19.23% of portfolio value over 30 days.

Pair Corralation between Yobit Namecoin and Yobit Waves

-0.17
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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 Waves USD  
0 

Risk-Adjusted Performance

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

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
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