Pair Correlation Between Yobit BiosCrypto and Yobit Golem

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

Yobit

BiosCrypto on Yobit in USD
 0.0032 
0.002222  227.2%
Market Cap: 0

Yobit

Golem Network Token on Yobit in USD
 0.55 
0.15  37.25%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BiosCrypto USD is expected to generate 8.22 times more return on investment than Yobit Golem. However, Yobit BiosCrypto is 8.22 times more volatile than Yobit Golem Network Token USD. It trades about 0.25 of its potential returns per unit of risk. Yobit Golem Network Token USD is currently generating about 0.18 per unit of risk. If you would invest  0.00  in Yobit BiosCrypto USD on November 17, 2017 and sell it today you would earn a total of  0.32  from holding Yobit BiosCrypto USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BiosCrypto and Yobit Golem
0.01

Parameters

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

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BiosCrypto USD

  
16 

Risk-Adjusted Performance

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

Yobit Golem Network

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.