Pair Correlation Between Yobit SibCoin and Yobit SpaceCoin

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

Yobit

SibCoin on Yobit in USD
 3.15 
(0.69)  17.97%
Market Cap: 1 K

Yobit

SpaceCoin on Yobit in USD
 0.0147 
(0.02528)  63.23%
Market Cap: 558
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SibCoin is expected to generate 30.95 times less return on investment than Yobit SpaceCoin. But when comparing it to its historical volatility, Yobit SibCoin USD is 10.74 times less risky than Yobit SpaceCoin. It trades about 0.1 of its potential returns per unit of risk. Yobit SpaceCoin USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest  0.2  in Yobit SpaceCoin USD on December 20, 2017 and sell it today you would earn a total of  1.27  from holding Yobit SpaceCoin USD or generate 635.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit SibCoin and Yobit SpaceCoin
-0.37

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit SibCoin USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SibCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Yobit SibCoin USD

Pair trading matchups for Yobit SibCoin

Yobit SpaceCoin USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SpaceCoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

Yobit SpaceCoin USD

Pair trading matchups for Yobit SpaceCoin