Pair Correlation Between Yobit B3 and Yobit Decred

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

Yobit

B3 Coin on Yobit in USD
 0.0002502 
0.0000002  0.08%
Market Cap: 45.0

Yobit

Decred on Yobit in USD
 66.36 
11.26  20.44%
Market Cap: 519.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 Coin USD is expected to under-perform the Yobit Decred. In addition to that, Yobit B3 is 4.24 times more volatile than Yobit Decred USD. It trades about -0.01 of its total potential returns per unit of risk. Yobit Decred USD is currently generating about 0.26 per unit of volatility. If you would invest  3,314  in Yobit Decred USD on November 14, 2017 and sell it today you would earn a total of  2,196  from holding Yobit Decred USD or generate 66.26% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and Yobit Decred
-0.27

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit B3 Coin

  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit B3 Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Yobit Decred USD

  
17 

Risk-Adjusted Performance

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