Pair Correlation Between Yobit SpaceCoin and Yobit Golem

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

Yobit

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

Yobit

Golem Network Token on Yobit in USD
 0.75 
(0.21)  21.88%
Market Cap: 395
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SpaceCoin USD is expected to generate 15.62 times more return on investment than Yobit Golem. However, Yobit SpaceCoin is 15.62 times more volatile than Yobit Golem Network Token USD. It trades about 0.28 of its potential returns per unit of risk. Yobit Golem Network Token USD is currently generating about 0.18 per unit of risk. 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 SpaceCoin and Yobit Golem
0.37

Parameters

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

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

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

Yobit Golem Network

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Yobit Golem Network Token USD

Pair trading matchups for Yobit Golem