Pair Correlation Between Yobit ClubCoin and Yobit Lisk

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

Yobit

ClubCoin on Yobit in USD
 3.35 
(1.45)  30.21%
Market Cap: 5.0

Yobit

Lisk on Yobit in USD
 16.96 
6.65  64.5%
Market Cap: 1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 6.52 times more return on investment than Yobit Lisk. However, Yobit ClubCoin is 6.52 times more volatile than Yobit Lisk USD. It trades about 0.18 of its potential returns per unit of risk. Yobit Lisk USD is currently generating about 0.18 per unit of risk. If you would invest  312  in Yobit ClubCoin USD on November 18, 2017 and sell it today you would earn a total of  23  from holding Yobit ClubCoin USD or generate 7.37% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit ClubCoin and Yobit Lisk
-0.26

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit ClubCoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Yobit Lisk USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Lisk USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.