Correlation Analysis Between Yobit Chip and Coinbase Bitcoin

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

Yobit Chip USD  vs.  Coinbase Bitcoin USD

Yobit

Chip on Yobit in USD

 0.001601 
0.001108  224.75%
Market Cap: 2.0
  

Coinbase

Bitcoin on Coinbase in USD

 6,426 
22.49  0.35%
Market Cap: 51.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Chip USD is expected to generate 21.26 times more return on investment than Coinbase Bitcoin. However, Yobit Chip is 21.26 times more volatile than Coinbase Bitcoin USD. It trades about 0.21 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.02 per unit of risk. If you would invest  0.05  in Yobit Chip USD on September 18, 2018 and sell it today you would earn a total of  0.11  from holding Yobit Chip USD or generate 224.75% return on investment over 30 days.

Pair Corralation between Yobit Chip and Coinbase Bitcoin

-0.09
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Chip 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 Chip 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 Chip 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 Chip i.e. Yobit Chip and Coinbase Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Chip USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Chip USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1092.25

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