Pair Correlation Between Yobit Cerium and Yobit B3

This module allows you to analyze existing cross correlation between Yobit Cerium USD and Yobit B3 Coin USD. You can compare the effects of market volatilities on Yobit Cerium and Yobit B3 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 Cerium with a short position of Yobit B3. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Cerium and Yobit B3.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Yobit Cerium USD  vs   Yobit B3 Coin USD

Yobit

Cerium on Yobit in USD
 0.00407 
(0.03603)  89.85%
Market Cap: 49.0

Yobit

B3 Coin on Yobit in USD
 0.002562 
(0.000407)  13.71%
Market Cap: 16 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Cerium USD is expected to generate 2.41 times more return on investment than Yobit B3. However, Yobit Cerium is 2.41 times more volatile than Yobit B3 Coin USD. It trades about 0.24 of its potential returns per unit of risk. Yobit B3 Coin USD is currently generating about 0.26 per unit of risk. If you would invest  0.00  in Yobit Cerium USD on December 19, 2017 and sell it today you would earn a total of  4.01  from holding Yobit Cerium USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Cerium and Yobit B3
0.65

Parameters

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

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Cerium USD and Yobit B3 Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit B3 Coin and Yobit Cerium 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 Cerium USD are associated (or correlated) with Yobit B3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit B3 Coin has no effect on the direction of Yobit Cerium i.e. Yobit Cerium and Yobit B3 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Cerium USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Cerium USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit Cerium USD

Pair trading matchups for Yobit Cerium

Yobit B3 Coin

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit B3 Coin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Yobit B3 Coin USD

Pair trading matchups for Yobit B3