Pair Correlation Between Yobit Rimbit and Yobit Positron

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

Yobit

Rimbit on Yobit in USD
 0.011 
(0.00325)  22.81%
Market Cap: 227

Yobit

Positron on Yobit in USD
 17 
6.67  64.57%
Market Cap: 132
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rimbit USD is expected to generate 1.91 times more return on investment than Yobit Positron. However, Yobit Rimbit is 1.91 times more volatile than Yobit Positron USD. It trades about 0.35 of its potential returns per unit of risk. Yobit Positron USD is currently generating about 0.2 per unit of risk. If you would invest  0.03  in Yobit Rimbit USD on December 20, 2017 and sell it today you would earn a total of  1.08  from holding Yobit Rimbit USD or generate 4300.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Rimbit and Yobit Positron
0.56

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Rimbit USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

Yobit Rimbit USD

Pair trading matchups for Yobit Rimbit

Yobit Positron USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Positron USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Yobit Positron USD

Pair trading matchups for Yobit Positron