Correlation Analysis Between Yobit ClubCoin and Yobit Universal

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

Yobit ClubCoin USD  vs.  Yobit Universal Currency USD

Yobit

ClubCoin on Yobit in USD

 0.99 
0.47  32.07%
Market Cap: 82.0
  

Yobit

Universal Currency on Yobit in USD

 0.07 
0.00012  0.17%
Market Cap: 160
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 5.83 times more return on investment than Yobit Universal. However, Yobit ClubCoin is 5.83 times more volatile than Yobit Universal Currency USD. It trades about 0.28 of its potential returns per unit of risk. Yobit Universal Currency USD is currently generating about 0.06 per unit of risk. If you would invest  33.20  in Yobit ClubCoin USD on September 16, 2018 and sell it today you would earn a total of  65.98  from holding Yobit ClubCoin USD or generate 198.73% return on investment over 30 days.

Pair Corralation between Yobit ClubCoin and Yobit Universal

-0.13
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.
Yobit Universal Curr  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Universal Currency USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1116.39

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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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