Correlation Analysis Between Yobit CoolDarkCoin and Yobit Universal

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

Yobit CoolDarkCoin USD  vs.  Yobit Universal Currency USD

Yobit

CoolDarkCoin on Yobit in USD

 0.0235 
0.0175  291.67%
Market Cap: 0
  

Yobit

Universal Currency on Yobit in USD

 0.07 
0.00049  0.68%
Market Cap: 92.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CoolDarkCoin USD is expected to generate 21.95 times more return on investment than Yobit Universal. However, Yobit CoolDarkCoin is 21.95 times more volatile than Yobit Universal Currency USD. It trades about 0.21 of its potential returns per unit of risk. Yobit Universal Currency USD is currently generating about 0.12 per unit of risk. If you would invest  0.60  in Yobit CoolDarkCoin USD on September 23, 2018 and sell it today you would earn a total of  1.75  from holding Yobit CoolDarkCoin USD or generate 291.67% return on investment over 30 days.

Pair Corralation between Yobit CoolDarkCoin and Yobit Universal

0.21
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.45%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit CoolDarkCoin USD  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CoolDarkCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.
Yobit Universal Curr  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Universal Currency USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

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