Pair Correlation Between Yobit BolivarCoin and Yobit DebitCoin

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

Yobit

BolivarCoin on Yobit in USD
 0.07 
0.01999  39.97%
Market Cap: 48.0

Yobit

DebitCoin on Yobit in USD
 0.014 
0.006  75%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BolivarCoin is expected to generate 2.15 times less return on investment than Yobit DebitCoin. But when comparing it to its historical volatility, Yobit BolivarCoin USD is 1.9 times less risky than Yobit DebitCoin. It trades about 0.18 of its potential returns per unit of risk. Yobit DebitCoin USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  0.26  in Yobit DebitCoin USD on November 16, 2017 and sell it today you would earn a total of  1.14  from holding Yobit DebitCoin USD or generate 432.72% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BolivarCoin and Yobit DebitCoin
0.59

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BolivarCoin USD

  
11 

Risk-Adjusted Performance

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

Yobit DebitCoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.