Pair Correlation Between Yobit BuzzCoin and Yobit NameCoin

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

Yobit

BuzzCoin on Yobit in USD
 0.000639 
0.000336  110.89%
Market Cap: 155

Yobit

NameCoin on Yobit in USD
 2.9 
(0.12)  3.97%
Market Cap: 26.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BuzzCoin USD is expected to generate 1.82 times more return on investment than Yobit NameCoin. However, Yobit BuzzCoin is 1.82 times more volatile than Yobit NameCoin USD. It trades about 0.32 of its potential returns per unit of risk. Yobit NameCoin USD is currently generating about 0.22 per unit of risk. If you would invest  0.02  in Yobit BuzzCoin USD on November 12, 2017 and sell it today you would earn a total of  0.06  from holding Yobit BuzzCoin USD or generate 429.8% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BuzzCoin and Yobit NameCoin
0.12

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy83.87%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BuzzCoin USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BuzzCoin USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

Yobit NameCoin USD

  
14 

Risk-Adjusted Performance

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