Pair Correlation Between Yobit BitstarCoin and Yobit Rimbit

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

Yobit BitstarCoin USD  vs.  Yobit Rimbit USD

Yobit

BitstarCoin on Yobit in USD
 0.03304 
0.00304  10.13%
Market Cap: 1.0
  

Yobit

Rimbit on Yobit in USD
 0.001057 
0.000043  3.91%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitstarCoin is expected to generate 1.24 times less return on investment than Yobit Rimbit. But when comparing it to its historical volatility, Yobit BitstarCoin USD is 1.24 times less risky than Yobit Rimbit. It trades about 0.11 of its potential returns per unit of risk. Yobit Rimbit USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  0.39  in Yobit Rimbit USD on March 22, 2018 and sell it today you would lose (0.28)  from holding Yobit Rimbit USD or give up 72.9% of portfolio value over 30 days.

Pair Corralation between Yobit BitstarCoin and Yobit Rimbit

0.6
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit BitstarCoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitstarCoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Yobit Rimbit USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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