Correlation Analysis Between Yobit Bitshares and Yobit EtherDoge

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

Yobit Bitshares USD  vs.  Yobit EtherDoge USD

Yobit

Bitshares on Yobit in USD
 0.36 
0.025  6.41%
Market Cap: 12.0
  

Yobit

EtherDoge on Yobit in USD
 0.0034 
0.0007  25.93%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares is expected to generate 1.73 times less return on investment than Yobit EtherDoge. But when comparing it to its historical volatility, Yobit Bitshares USD is 1.26 times less risky than Yobit EtherDoge. It trades about 0.05 of its potential returns per unit of risk. Yobit EtherDoge USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  0.40  in Yobit EtherDoge USD on April 24, 2018 and sell it today you would lose (0.06)  from holding Yobit EtherDoge USD or give up 15.0% of portfolio value over 30 days.

Pair Corralation between Yobit Bitshares and Yobit EtherDoge

0.14
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitshares USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitshares USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Yobit EtherDoge USD  
4 

Risk-Adjusted Performance

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

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