Correlation Analysis Between Yobit Bitshares and Yobit Vertcoin

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

Yobit Bitshares USD  vs.  Yobit Vertcoin USD

Yobit

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

Yobit

Vertcoin on Yobit in USD
 1.82 
0.15  8.98%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares USD is expected to generate 1.49 times more return on investment than Yobit Vertcoin. However, Yobit Bitshares is 1.49 times more volatile than Yobit Vertcoin USD. It trades about 0.06 of its potential returns per unit of risk. Yobit Vertcoin USD is currently generating about -0.07 per unit of risk. If you would invest  43.00  in Yobit Bitshares USD on April 24, 2018 and sell it today you would lose (4.00)  from holding Yobit Bitshares USD or give up 9.3% of portfolio value over 30 days.

Pair Corralation between Yobit Bitshares and Yobit Vertcoin

0.27
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitshares USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitshares USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Yobit Vertcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Vertcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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