Pair Correlation Between Yobit Bitcloud and Yobit DebitCoin

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

Yobit

Bitcloud on Yobit in USD
 0.11 
0.0758  228.31%
Market Cap: 23.0

Yobit

DebitCoin on Yobit in USD
 0.0109 
0.0029  36.25%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 0.69 times more return on investment than Yobit DebitCoin. However, Yobit Bitcloud USD is 1.45 times less risky than Yobit DebitCoin. It trades about 0.32 of its potential returns per unit of risk. Yobit DebitCoin USD is currently generating about 0.2 per unit of risk. If you would invest  1.69  in Yobit Bitcloud USD on November 16, 2017 and sell it today you would earn a total of  9.21  from holding Yobit Bitcloud USD or generate 546.12% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitcloud and Yobit DebitCoin
0.16

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 Bitcloud 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 Bitcloud 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 Bitcloud 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 Bitcloud i.e. Yobit Bitcloud and Yobit DebitCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Bitcloud USD

  
21 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.

Yobit DebitCoin USD

  
12 

Risk-Adjusted Performance

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