Pair Correlation Between Yobit BitBean and Yobit GoldBlocks

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

Yobit

BitBean on Yobit in USD
 0.00888 
0.00517  139.35%
Market Cap: 27.0

Yobit

GoldBlocks on Yobit in USD
 0.00 
0.00  0.00%
Market Cap: 351
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.11  in Yobit BitBean USD on November 12, 2017 and sell it today you would earn a total of  0.77  from holding Yobit BitBean USD or generate 685.15% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitBean and Yobit GoldBlocks
0.0

Parameters

Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy3.23%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitBean USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

Yobit BitBean USD

Pair trading matchups for Yobit BitBean

Yobit GoldBlocks USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GoldBlocks USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

Yobit GoldBlocks USD

Pair trading matchups for Yobit GoldBlocks