Pair Correlation Between Yobit 2BACCO and Yobit Pakcoin

This module allows you to analyze existing cross correlation between Yobit 2BACCO Coin USD and Yobit Pakcoin USD. You can compare the effects of market volatilities on Yobit 2BACCO and Yobit Pakcoin 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 2BACCO with a short position of Yobit Pakcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit 2BACCO and Yobit Pakcoin.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Yobit 2BACCO Coin USD  vs   Yobit Pakcoin USD

Yobit

2BACCO Coin on Yobit in USD
 0.000313 
0.0002  176.99%
Market Cap: 29.0

Yobit

Pakcoin on Yobit in USD
 0.01 
(0.0035)  25.93%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit 2BACCO Coin USD is expected to generate 1.117120299135198E13 times more return on investment than Yobit Pakcoin. However, Yobit 2BACCO is 1.117120299135198E13 times more volatile than Yobit Pakcoin USD. It trades about 0.18 of its potential returns per unit of risk. Yobit Pakcoin USD is currently generating about 0.1 per unit of risk. If you would invest  0.00  in Yobit 2BACCO Coin USD on November 13, 2017 and sell it today you would earn a total of  0.03  from holding Yobit 2BACCO Coin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit 2BACCO and Yobit Pakcoin
0.7

Parameters

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

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit 2BACCO Coin USD and Yobit Pakcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Pakcoin USD and Yobit 2BACCO 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 2BACCO Coin USD are associated (or correlated) with Yobit Pakcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Pakcoin USD has no effect on the direction of Yobit 2BACCO i.e. Yobit 2BACCO and Yobit Pakcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit 2BACCO Coin

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit 2BACCO Coin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Yobit Pakcoin USD

  
6 

Risk-Adjusted Performance

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