Pair Correlation Between Yobit 2BACCO and Yobit VertCoin

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

Yobit

2BACCO Coin on Yobit in USD
 0.000439 
0.000126  40.26%
Market Cap: 0

Yobit

VertCoin on Yobit in USD
 7.9 
(0.21)  2.59%
Market Cap: 26 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit 2BACCO Coin USD is expected to generate 1.615237439601893E13 times more return on investment than Yobit VertCoin. However, Yobit 2BACCO is 1.615237439601893E13 times more volatile than Yobit VertCoin USD. It trades about 0.18 of its potential returns per unit of risk. Yobit VertCoin USD is currently generating about 0.26 per unit of risk. If you would invest  0.00  in Yobit 2BACCO Coin USD on November 14, 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 VertCoin
0.44

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 2BACCO Coin USD and Yobit VertCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit VertCoin 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 VertCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit VertCoin USD has no effect on the direction of Yobit 2BACCO i.e. Yobit 2BACCO and Yobit VertCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit 2BACCO Coin

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit 2BACCO Coin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit VertCoin USD

  
17 

Risk-Adjusted Performance

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