Pair Correlation Between Yobit Aircoin and Yobit StartCoin

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

Yobit

Aircoin on Yobit in USD
 0.0001479 
(0.0000011)  0.74%
Market Cap: 15.0

Yobit

StartCoin on Yobit in USD
 0.27 
(0.03)  10%
Market Cap: 33.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Aircoin is expected to generate 1.17 times less return on investment than Yobit StartCoin. In addition to that, Yobit Aircoin is 1.41 times more volatile than Yobit StartCoin USD. It trades about 0.16 of its total potential returns per unit of risk. Yobit StartCoin USD is currently generating about 0.26 per unit of volatility. If you would invest  3.74  in Yobit StartCoin USD on November 12, 2017 and sell it today you would earn a total of  23.26  from holding Yobit StartCoin USD or generate 622.31% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Aircoin and Yobit StartCoin
0.27

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy93.55%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Aircoin 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 Yobit Aircoin 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 Aircoin 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 Yobit Aircoin i.e. Yobit Aircoin and Yobit StartCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Aircoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Aircoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Yobit Aircoin USD

Pair trading matchups for Yobit Aircoin

Yobit StartCoin USD

  
16 

Risk-Adjusted Performance

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

Yobit StartCoin USD

Pair trading matchups for Yobit StartCoin