Correlation Analysis Between Yobit BitBean and Yobit Fuzzballs

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

Yobit BitBean USD  vs.  Yobit Fuzzballs USD

Yobit

BitBean on Yobit in USD

 0.0011 
(0.000454)  29.21%
Market Cap: 0
  

Yobit

Fuzzballs on Yobit in USD

 0.002 
0.00  0.00%
Market Cap: 4.0
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.40  in Yobit BitBean USD on November 10, 2018 and sell it today you would lose (0.29)  from holding Yobit BitBean USD or give up 72.5% of portfolio value over 30 days.

Pair Corralation between Yobit BitBean and Yobit Fuzzballs

0.37
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy2.27%
ValuesDaily Returns

Diversification

Yobit BitBean USD diversification synergy

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit BitBean USD  
10

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Yobit Fuzzballs USD  
0

Risk-Adjusted Performance

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

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1036.58

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.


 
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