Pair Correlation Between Yobit BuzzCoin and Coinbase Bitcoin

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

Yobit

BuzzCoin on Yobit in USD
 0.00062 
0.00012  24%
Market Cap: 0

Coinbase

Bitcoin on Coinbase in USD
 16,860 
(58)  0.34%
Market Cap: 7429.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BuzzCoin USD is expected to generate 6.88 times more return on investment than Coinbase Bitcoin. However, Yobit BuzzCoin is 6.88 times more volatile than Coinbase Bitcoin USD. It trades about 0.22 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.35 per unit of risk. If you would invest  0.04  in Yobit BuzzCoin USD on November 14, 2017 and sell it today you would earn a total of  0.02  from holding Yobit BuzzCoin USD or generate 40.91% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BuzzCoin and Coinbase Bitcoin
-0.37

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BuzzCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BuzzCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Coinbase Bitcoin USD

  
23 

Risk-Adjusted Performance

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