Correlation Analysis Between Yobit SpaceCoin and Yobit Rimbit

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

Yobit SpaceCoin USD  vs.  Yobit Rimbit USD

Yobit

SpaceCoin on Yobit in USD
 0.004609 
0.000004  0.09%
Market Cap: 0
  

Yobit

Rimbit on Yobit in USD
 0.001104 
0.000145  11.61%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SpaceCoin USD is expected to generate 0.78 times more return on investment than Yobit Rimbit. However, Yobit SpaceCoin USD is 1.29 times less risky than Yobit Rimbit. It trades about 0.15 of its potential returns per unit of risk. Yobit Rimbit USD is currently generating about 0.09 per unit of risk. If you would invest  0.45  in Yobit SpaceCoin USD on April 22, 2018 and sell it today you would earn a total of  0.01  from holding Yobit SpaceCoin USD or generate 2.4% return on investment over 30 days.

Pair Corralation between Yobit SpaceCoin and Yobit Rimbit

-0.17
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit SpaceCoin USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SpaceCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Yobit Rimbit USD  
6 

Risk-Adjusted Performance

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

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