Pair Correlation Between Yobit Armory and Coinbase Bitcoin

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


Armory Coin on Yobit in USD
(0.0000088)  8%
Market Cap: 1.0


Bitcoin on Coinbase in USD
(450)  3.82%
Market Cap: 1659.4 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Armory Coin USD is expected to generate 11.53 times more return on investment than Coinbase Bitcoin. However, Yobit Armory is 11.53 times more volatile than Coinbase Bitcoin USD. It trades about 0.22 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.05 per unit of risk. If you would invest  0.05  in Yobit Armory Coin USD on December 21, 2017 and sell it today you would lose (0.03)  from holding Yobit Armory Coin USD or give up 77.51% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Armory and Coinbase Bitcoin


Time Period1 Month [change]
ValuesDaily Returns


Significant diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit Armory Coin


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Armory Coin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit Armory Coin USD

Pair trading matchups for Yobit Armory

Coinbase Bitcoin USD


Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin