Pair Correlation Between Yobit ClubCoin and Yobit BitCurrency

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

Yobit

ClubCoin on Yobit in USD
 1.63 
0.63  63.00%
Market Cap: 364

Yobit

BitCurrency on Yobit in USD
 0.0035 
0.0022  38.60%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin is expected to generate 1.42 times less return on investment than Yobit BitCurrency. But when comparing it to its historical volatility, Yobit ClubCoin USD is 1.49 times less risky than Yobit BitCurrency. It trades about 0.13 of its potential returns per unit of risk. Yobit BitCurrency USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  0.81  in Yobit BitCurrency USD on January 25, 2018 and sell it today you would lose (0.46)  from holding Yobit BitCurrency USD or give up 56.79% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit ClubCoin and Yobit BitCurrency
0.03

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit ClubCoin USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Yobit ClubCoin USD

Pair trading matchups for Yobit ClubCoin

Yobit BitCurrency USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCurrency USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Yobit BitCurrency USD

Pair trading matchups for Yobit BitCurrency