Pair Correlation Between Yobit BitCrystal and Yobit FireflyCoin

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

Yobit

BitCrystal on Yobit in USD
 0.0004302 
0.00017  65.46%
Market Cap: 78.0

Yobit

FireflyCoin on Yobit in USD
 0.000114 
(0.001034)  90.07%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal is expected to generate 36.47 times less return on investment than Yobit FireflyCoin. But when comparing it to its historical volatility, Yobit BitCrystal USD is 40.32 times less risky than Yobit FireflyCoin. It trades about 0.21 of its potential returns per unit of risk. Yobit FireflyCoin USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  0.00  in Yobit FireflyCoin USD on November 11, 2017 and sell it today you would earn a total of  0.01  from holding Yobit FireflyCoin USD or generate 1800.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCrystal and Yobit FireflyCoin
-0.45

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy90.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitCrystal USD

  
13 

Risk-Adjusted Performance

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

Yobit FireflyCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit FireflyCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.