Pair Correlation Between Yobit Ratecoin and Yobit Waves

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

Yobit

Ratecoin on Yobit in USD
 0.007889 
0.001689  27.24%
Market Cap: 12.0

Yobit

Waves on Yobit in USD
 10.05 
(0.33)  3.18%
Market Cap: 362 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ratecoin USD is expected to generate 28.12 times more return on investment than Yobit Waves. However, Yobit Ratecoin is 28.12 times more volatile than Yobit Waves USD. It trades about 0.22 of its potential returns per unit of risk. Yobit Waves USD is currently generating about -0.18 per unit of risk. If you would invest  0.38  in Yobit Ratecoin USD on December 22, 2017 and sell it today you would earn a total of  0.41  from holding Yobit Ratecoin USD or generate 105.98% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Ratecoin and Yobit Waves
0.3

Parameters

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

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Ratecoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ratecoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit Ratecoin USD

Pair trading matchups for Yobit Ratecoin

Yobit Waves USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Waves USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Yobit Waves USD

Pair trading matchups for Yobit Waves