Correlation Analysis Between Yobit BitBean and Yobit MaxCoin

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

Yobit BitBean USD  vs.  Yobit MaxCoin USD

Yobit

BitBean on Yobit in USD

 0.0011 
(0.000454)  29.21%
Market Cap: 0
  

Yobit

MaxCoin on Yobit in USD

 0.007206 
(0.000794)  9.93%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 10.52 times more return on investment than Yobit MaxCoin. However, Yobit BitBean is 10.52 times more volatile than Yobit MaxCoin USD. It trades about 0.16 of its potential returns per unit of risk. Yobit MaxCoin USD is currently generating about -0.11 per unit of risk. 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 MaxCoin

0.74
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Yobit BitBean USD diversification synergy

Poor diversification

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

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1038.25

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com