Pair Correlation Between Yobit Blackstar and Yobit B3

This module allows you to analyze existing cross correlation between Yobit Blackstar USD and Yobit B3 Coin USD. You can compare the effects of market volatilities on Yobit Blackstar and Yobit B3 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 Blackstar with a short position of Yobit B3. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Blackstar and Yobit B3.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Yobit Blackstar USD  vs   Yobit B3 Coin USD

Yobit

Blackstar on Yobit in USD
 0.000453 
0.000443  4,430%
Market Cap: 0

Yobit

B3 Coin on Yobit in USD
 0.0002502 
0.0000002  0.08%
Market Cap: 45.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Blackstar USD is expected to generate 46.09 times more return on investment than Yobit B3. However, Yobit Blackstar is 46.09 times more volatile than Yobit B3 Coin USD. It trades about 0.25 of its potential returns per unit of risk. Yobit B3 Coin USD is currently generating about -0.01 per unit of risk. If you would invest  0.05  in Yobit Blackstar USD on November 14, 2017 and sell it today you would lose  0.00  from holding Yobit Blackstar USD or give up 9.4% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Blackstar and Yobit B3
0.12

Parameters

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

Diversification

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Blackstar USD and Yobit B3 Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit B3 Coin and Yobit Blackstar 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 Blackstar USD are associated (or correlated) with Yobit B3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit B3 Coin has no effect on the direction of Yobit Blackstar i.e. Yobit Blackstar and Yobit B3 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Blackstar USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Blackstar USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Yobit B3 Coin

  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit B3 Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.