Pair Correlation Between Yobit ClubCoin and Yobit iBankCoin

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

Yobit

ClubCoin on Yobit in USD
 4.59 
1.5  48.54%
Market Cap: 537

Yobit

iBankCoin on Yobit in USD
 0.025 
0.0003  1.21%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 2.15 times more return on investment than Yobit iBankCoin. However, Yobit ClubCoin is 2.15 times more volatile than Yobit iBankCoin USD. It trades about 0.21 of its potential returns per unit of risk. Yobit iBankCoin USD is currently generating about 0.4 per unit of risk. If you would invest  335  in Yobit ClubCoin USD on December 17, 2017 and sell it today you would earn a total of  124  from holding Yobit ClubCoin USD or generate 37.01% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit ClubCoin and Yobit iBankCoin
0.09

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit ClubCoin USD

  
14 

Risk-Adjusted Performance

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

Yobit iBankCoin USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit iBankCoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.