Pair Correlation Between Yobit Armory and Yobit BitstarCoin

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

Yobit

Armory Coin on Yobit in USD
 0.00012 
(0.000159)  56.99%
Market Cap: 4.0

Yobit

BitstarCoin on Yobit in USD
 0.07 
(0.13)  65%
Market Cap: 34.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Armory is expected to generate 6.24 times less return on investment than Yobit BitstarCoin. But when comparing it to its historical volatility, Yobit Armory Coin USD is 3.69 times less risky than Yobit BitstarCoin. It trades about 0.2 of its potential returns per unit of risk. Yobit BitstarCoin USD is currently generating about 0.34 of returns per unit of risk over similar time horizon. If you would invest  2.21  in Yobit BitstarCoin USD on December 17, 2017 and sell it today you would earn a total of  4.89  from holding Yobit BitstarCoin USD or generate 221.85% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Armory and Yobit BitstarCoin
-0.21

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy82.76%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Armory Coin

  
13 

Risk-Adjusted Performance

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

Yobit BitstarCoin USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitstarCoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.