Pair Correlation Between Yobit Bitshares and Yobit Aircoin

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

Yobit

Bitshares on Yobit in USD
 0.78 
0.027  3.59%
Market Cap: 5.0

Yobit

Aircoin on Yobit in USD
 0.0001469 
0.0000369  33.55%
Market Cap: 15.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares is expected to generate 1.78 times less return on investment than Yobit Aircoin. But when comparing it to its historical volatility, Yobit Bitshares USD is 2.32 times less risky than Yobit Aircoin. It trades about 0.21 of its potential returns per unit of risk. Yobit Aircoin USD is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  0.02  in Yobit Aircoin USD on November 15, 2017 and sell it today you would lose (0.01)  from holding Yobit Aircoin USD or give up 26.55% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitshares and Yobit Aircoin
-0.11

Parameters

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

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Bitshares USD

  
13 

Risk-Adjusted Performance

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

Yobit Aircoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Aircoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.