Correlation Analysis Between Yobit Bitshares and Kraken ZCash

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

Yobit Bitshares USD  vs.  Kraken ZCash USD

Yobit

Bitshares on Yobit in USD
 0.39 
0.03  8.33%
Market Cap: 12.0
  

Kraken

ZCash on Kraken in USD
 319.08 
8.93  2.72%
Market Cap: 485.4 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares USD is expected to generate 7.95 times more return on investment than Kraken ZCash. However, Yobit Bitshares is 7.95 times more volatile than Kraken ZCash USD. It trades about 0.19 of its potential returns per unit of risk. Kraken ZCash USD is currently generating about 0.09 per unit of risk. If you would invest  12.00  in Yobit Bitshares USD on April 22, 2018 and sell it today you would earn a total of  27.00  from holding Yobit Bitshares USD or generate 225.0% return on investment over 30 days.

Pair Corralation between Yobit Bitshares and Kraken ZCash

-0.25
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitshares USD  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitshares USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.
Kraken ZCash USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken ZCash USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

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