Pair Correlation Between Yobit B3 and Yobit Bitshares

This module allows you to analyze existing cross correlation between Yobit B3 Coin USD and Yobit Bitshares USD. You can compare the effects of market volatilities on Yobit B3 and Yobit Bitshares 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 B3 with a short position of Yobit Bitshares. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit B3 and Yobit Bitshares.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Yobit B3 Coin USD  vs   Yobit Bitshares USD

Yobit

B3 Coin on Yobit in USD
 0.00043 
0.00008  22.86%
Market Cap: 45.0

Yobit

Bitshares on Yobit in USD
 0.73 
(0.0794)  9.8%
Market Cap: 5.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 is expected to generate 2.43 times less return on investment than Yobit Bitshares. But when comparing it to its historical volatility, Yobit B3 Coin USD is 1.09 times less risky than Yobit Bitshares. It trades about 0.1 of its potential returns per unit of risk. Yobit Bitshares USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  29.35  in Yobit Bitshares USD on November 12, 2017 and sell it today you would earn a total of  63.77  from holding Yobit Bitshares USD or generate 217.27% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and Yobit Bitshares
-0.1

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit B3 Coin USD and Yobit Bitshares USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Bitshares USD and Yobit B3 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 B3 Coin USD are associated (or correlated) with Yobit Bitshares. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Bitshares USD has no effect on the direction of Yobit B3 i.e. Yobit B3 and Yobit Bitshares go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit B3 Coin

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit B3 Coin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Yobit Bitshares USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitshares USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.