Correlation Analysis Between Yobit Bitshares and Yobit DebitCoin

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

Yobit Bitshares USD  vs.  Yobit DebitCoin USD

Yobit

Bitshares on Yobit in USD
 0.36 
0.05  12.62%
Market Cap: 12.0
  

Yobit

DebitCoin on Yobit in USD
 0.0025 
0.002299  47.91%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares USD is expected to generate 1.5 times more return on investment than Yobit DebitCoin. However, Yobit Bitshares is 1.5 times more volatile than Yobit DebitCoin USD. It trades about 0.19 of its potential returns per unit of risk. Yobit DebitCoin USD is currently generating about 0.07 per unit of risk. If you would invest  12.00  in Yobit Bitshares USD on April 20, 2018 and sell it today you would earn a total of  25.32  from holding Yobit Bitshares USD or generate 211.0% return on investment over 30 days.

Pair Corralation between Yobit Bitshares and Yobit DebitCoin

0.17
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 Bitshares 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 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 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 Bitshares i.e. Yobit Bitshares and Yobit DebitCoin 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 DebitCoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1066.36

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.