Pair Correlation Between Yobit BitBean and Yobit Pulse

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

Yobit

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

Yobit

Pulse on Yobit in USD
 0.00395 
(0.00605)  60.5%
Market Cap: 3.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean is expected to generate 4.63 times less return on investment than Yobit Pulse. But when comparing it to its historical volatility, Yobit BitBean USD is 9.31 times less risky than Yobit Pulse. It trades about 0.36 of its potential returns per unit of risk. Yobit Pulse USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.7  in Yobit Pulse USD on November 13, 2017 and sell it today you would lose (0.3)  from holding Yobit Pulse USD or give up 43.56% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitBean and Yobit Pulse
0.14

Parameters

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

Diversification

Average diversification

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

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Pulse USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.