Pair Correlation Between Yobit 32Bitcoin and Yobit ReddCoin

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

Yobit

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

Yobit

ReddCoin on Yobit in USD
 0.0016 
(0.000178)  10.01%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit 32Bitcoin USD is expected to generate 1.654797810957823E13 times more return on investment than Yobit ReddCoin. However, Yobit 32Bitcoin is 1.654797810957823E13 times more volatile than Yobit ReddCoin USD. It trades about 0.21 of its potential returns per unit of risk. Yobit ReddCoin USD is currently generating about 0.26 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  5.57  from holding Yobit 32Bitcoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit 32Bitcoin and Yobit ReddCoin
0.74

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy74.19%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit 32Bitcoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit 32Bitcoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Yobit ReddCoin USD

  
17 

Risk-Adjusted Performance

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