Correlation Analysis Between Yobit ClubCoin and Yobit Influxcoin

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

Comparative Performance

Yobit ClubCoin USD  
5

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Yobit Influxcoin USD  
1

Risk-Adjusted Performance

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

Yobit ClubCoin and Yobit Influxcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit ClubCoin USD  vs.  Yobit Influxcoin USD

Yobit

ClubCoin on Yobit in USD

 0.37 
0.0002  0.05%
Market Cap: 5.0
  

Yobit

Influxcoin on Yobit in USD

 0.003 
0.00  0.00%
Market Cap: 14.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 0.37 times more return on investment than Yobit Influxcoin. However, Yobit ClubCoin USD is 2.73 times less risky than Yobit Influxcoin. It trades about 0.08 of its potential returns per unit of risk. Yobit Influxcoin USD is currently generating about 0.02 per unit of risk. If you would invest  33.80  in Yobit ClubCoin USD on December 17, 2018 and sell it today you would earn a total of  2.92  from holding Yobit ClubCoin USD or generate 8.64% return on investment over 30 days.

Pair Corralation between Yobit ClubCoin and Yobit Influxcoin

0.29
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit ClubCoin and Yobit Influxcoin

Yobit  ClubCoin USD diversification synergy

Modest diversification

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

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