Pair Correlation Between Yobit SibCoin and Coinbase Bitcoin |
This module allows you to analyze existing cross correlation between Yobit SibCoin USD and Coinbase Bitcoin USD. You can compare the effects of market volatilities on Yobit SibCoin 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 SibCoin with a short position of Coinbase Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit SibCoin and Coinbase Bitcoin.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
Yobit SibCoin USD vs. Coinbase Bitcoin USD
YobitSibCoin on Yobit in USD 1.25
| CoinbaseBitcoin on Coinbase in USD 9,110
|
Pair Volatility
Assuming 30 trading days horizon, Yobit SibCoin USD is expected to under-perform the Coinbase Bitcoin. In addition to that, Yobit SibCoin is 2.33 times more volatile than Coinbase Bitcoin USD. It trades about -0.01 of its total potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.02 per unit of volatility. If you would invest 955,000 in Coinbase Bitcoin USD on March 26, 2018 and sell it today you would lose (12,001) from holding Coinbase Bitcoin USD or give up 1.26% of portfolio value over 30 days.
Pair Corralation between Yobit SibCoin and Coinbase Bitcoin
0.8
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Strong |
| Accuracy | 98.36% |
| Values | Daily Returns |
Diversification
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit SibCoin 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 SibCoin 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 SibCoin 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 SibCoin i.e. Yobit SibCoin and Coinbase Bitcoin go up and down completely randomly.
Comparative Volatility
| Yobit SibCoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Yobit SibCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit SibCoin USD
Pair trading matchups for Yobit SibCoin
| Coinbase Bitcoin USD |
1 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD
Pair trading matchups for Coinbase Bitcoin
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