Correlation Analysis Between Yobit Bitcloud and Yobit Gamecredits

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

Yobit Bitcloud USD  vs.  Yobit Gamecredits USD

Yobit

Bitcloud on Yobit in USD
 0.02001 
0.00499  19.96%
Market Cap: 1.0
  

Yobit

Gamecredits on Yobit in USD
 0.50 
0.0001  0.02%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to under-perform the Yobit Gamecredits. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Bitcloud USD is 1.91 times less risky than Yobit Gamecredits. The crypto trades about -0.17 of its potential returns per unit of risk. The Yobit Gamecredits USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  60.01  in Yobit Gamecredits USD on April 24, 2018 and sell it today you would lose (10.02)  from holding Yobit Gamecredits USD or give up 16.7% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcloud and Yobit Gamecredits

0.52
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitcloud USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Bitcloud USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Gamecredits USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Gamecredits USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1079.24

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.