Pair Correlation Between Yobit Bitshares and Yobit BitBean

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

Yobit

Bitshares on Yobit in USD
 0.6 
(0.13)  17.88%
Market Cap: 5.0

Yobit

BitBean on Yobit in USD
 0.00888 
0.00517  139.35%
Market Cap: 27.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares is expected to generate 11.83 times less return on investment than Yobit BitBean. But when comparing it to its historical volatility, Yobit Bitshares USD is 6.21 times less risky than Yobit BitBean. It trades about 0.19 of its potential returns per unit of risk. Yobit BitBean USD is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest  0.11  in Yobit BitBean USD on November 13, 2017 and sell it today you would earn a total of  0.77  from holding Yobit BitBean USD or generate 685.15% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitshares and Yobit BitBean
0.58

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

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

Yobit Bitshares USD

Pair trading matchups for Yobit Bitshares

Yobit BitBean USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

Yobit BitBean USD

Pair trading matchups for Yobit BitBean