Pair Correlation Between Yobit 32Bitcoin and Yobit NameCoin

This module allows you to analyze existing cross correlation between Yobit 32Bitcoin USD and Yobit NameCoin USD. You can compare the effects of market volatilities on Yobit 32Bitcoin and Yobit NameCoin 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 32Bitcoin with a short position of Yobit NameCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit 32Bitcoin and Yobit NameCoin.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Yobit 32Bitcoin USD  vs   Yobit NameCoin USD

Yobit

32Bitcoin on Yobit in USD
 0.11 
0.05434  97.63%
Market Cap: 0

Yobit

NameCoin on Yobit in USD
 3 
0.1  3.45%
Market Cap: 26.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit 32Bitcoin USD is expected to generate 6.76743856615961E12 times more return on investment than Yobit NameCoin. However, Yobit 32Bitcoin is 6.76743856615961E12 times more volatile than Yobit NameCoin USD. It trades about 0.19 of its potential returns per unit of risk. Yobit NameCoin USD is currently generating about 0.25 per unit of risk. If you would invest  0.00  in Yobit 32Bitcoin USD on November 13, 2017 and sell it today you would earn a total of  11  from holding Yobit 32Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit 32Bitcoin and Yobit NameCoin
0.53

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.67%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit 32Bitcoin USD and Yobit NameCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit NameCoin USD and Yobit 32Bitcoin 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 32Bitcoin USD are associated (or correlated) with Yobit NameCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit NameCoin USD has no effect on the direction of Yobit 32Bitcoin i.e. Yobit 32Bitcoin and Yobit NameCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit 32Bitcoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit 32Bitcoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit NameCoin USD

  
16 

Risk-Adjusted Performance

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