Pair Correlation Between Yobit BitBean and Yobit Invictus

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

Yobit

BitBean on Yobit in USD
 0.00889 
0.00518  139.62%
Market Cap: 2.0

Yobit

Invictus on Yobit in USD
 0.0012 
0.000756  170.27%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean is expected to generate 4.1843299407544E11 times less return on investment than Yobit Invictus. But when comparing it to its historical volatility, Yobit BitBean USD is 7.8150834706625E11 times less risky than Yobit Invictus. It trades about 0.34 of its potential returns per unit of risk. Yobit Invictus USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.00  in Yobit Invictus USD on November 11, 2017 and sell it today you would earn a total of  0.12  from holding Yobit Invictus USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitBean and Yobit Invictus
-0.04

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitBean USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.

Yobit Invictus USD

  
12 

Risk-Adjusted Performance

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