Correlation Analysis Between Yobit Coin2 and Yobit Waves

This module allows you to analyze existing cross correlation between Yobit Coin2 USD and Yobit Waves USD. You can compare the effects of market volatilities on Yobit Coin2 and Yobit Waves 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 Coin2 with a short position of Yobit Waves. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Coin2 and Yobit Waves.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Yobit Coin.2 USD  vs.  Yobit Waves USD

Yobit

Coin.2 on Yobit in USD
 0.001309 
0.002415  64.85%
Market Cap: 20.0
  

Yobit

Waves on Yobit in USD
 4.99 
0.29  6.17%
Market Cap: 49 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Coin2 USD is expected to generate 8.14 times more return on investment than Yobit Waves. However, Yobit Coin2 is 8.14 times more volatile than Yobit Waves USD. It trades about 0.17 of its potential returns per unit of risk. Yobit Waves USD is currently generating about -0.04 per unit of risk. If you would invest  0.13  in Yobit Coin2 USD on April 26, 2018 and sell it today you would earn a total of  0.01  from holding Yobit Coin2 USD or generate 4.72% return on investment over 30 days.

Pair Corralation between Yobit Coin2 and Yobit Waves

0.05
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy46.67%
ValuesDaily Returns

Diversification

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Coin.2 USD and Yobit Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Waves USD and Yobit Coin2 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 Coin2 USD are associated (or correlated) with Yobit Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Waves USD has no effect on the direction of Yobit Coin2 i.e. Yobit Coin2 and Yobit Waves go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Coin2 USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Coin2 USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Waves USD  
0 

Risk-Adjusted Performance

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

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