Pair Correlation Between Yobit Ratecoin and Yobit HempCoin

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

Yobit

Ratecoin on Yobit in USD
 0.00621 
(0.01179)  65.5%
Market Cap: 12.0

Yobit

HempCoin on Yobit in USD
 0.00016 
0.00004  33.33%
Market Cap: 1.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ratecoin USD is expected to generate 2.13 times more return on investment than Yobit HempCoin. However, Yobit Ratecoin is 2.13 times more volatile than Yobit HempCoin USD. It trades about 0.25 of its potential returns per unit of risk. Yobit HempCoin USD is currently generating about 0.19 per unit of risk. If you would invest  0.5  in Yobit Ratecoin USD on December 21, 2017 and sell it today you would earn a total of  1.3  from holding Yobit Ratecoin USD or generate 260.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Ratecoin and Yobit HempCoin
0.45

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Ratecoin USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ratecoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Yobit Ratecoin USD

Pair trading matchups for Yobit Ratecoin

Yobit HempCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HempCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit HempCoin USD

Pair trading matchups for Yobit HempCoin