Correlation Analysis Between Yobit ClubCoin and Yobit Spreadcoin

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

Yobit ClubCoin USD  vs.  Yobit Spreadcoin USD

Yobit

ClubCoin on Yobit in USD

 0.45 
0.00  0.00%
Market Cap: 0
  

Yobit

Spreadcoin on Yobit in USD

 0.01546 
0.005  47.80%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to under-perform the Yobit Spreadcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit ClubCoin USD is 2.06 times less risky than Yobit Spreadcoin. The crypto trades about -0.49 of its potential returns per unit of risk. The Yobit Spreadcoin USD is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest  2.30  in Yobit Spreadcoin USD on October 20, 2018 and sell it today you would lose (0.75)  from holding Yobit Spreadcoin USD or give up 32.78% of portfolio value over 30 days.

Pair Corralation between Yobit ClubCoin and Yobit Spreadcoin

0.69
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy81.82%
ValuesDaily Returns

Diversification

Yobit  ClubCoin USD diversification synergy

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit ClubCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Spreadcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Spreadcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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