Correlation Analysis Between Coinbase Bitcoin and Yobit StartCoin

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

Coinbase Bitcoin USD  vs.  Yobit StartCoin USD

Coinbase

Bitcoin on Coinbase in USD
 7,513 
11.00  0.15%
Market Cap: 245.1 B
  

Yobit

StartCoin on Yobit in USD
 0.025 
0.01285  105.76%
Market Cap: 179
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the Yobit StartCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 8.97 times less risky than Yobit StartCoin. The crypto trades about -0.22 of its potential returns per unit of risk. The Yobit StartCoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  2.99  in Yobit StartCoin USD on April 24, 2018 and sell it today you would lose (0.49)  from holding Yobit StartCoin USD or give up 16.39% of portfolio value over 30 days.

Pair Corralation between Coinbase Bitcoin and Yobit StartCoin

-0.27
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Coinbase Bitcoin USD  
0 

Risk-Adjusted Performance

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

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin
Yobit StartCoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit StartCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1079.24

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