Pair Correlation Between Yobit CludCoin and Lykke SolarCoin

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

Yobit

CludCoin on Yobit in USD
 0.0002 
(0.000125)  38.46%
Market Cap: 0

Lykke

SolarCoin on Lykke in USD
 0.48 
(0.0023)  0.47%
Market Cap: 15.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CludCoin USD is expected to generate 1.518295361786703E13 times more return on investment than Lykke SolarCoin. However, Yobit CludCoin is 1.518295361786703E13 times more volatile than Lykke SolarCoin USD. It trades about 0.18 of its potential returns per unit of risk. Lykke SolarCoin USD is currently generating about 0.17 per unit of risk. If you would invest  0.00  in Yobit CludCoin USD on November 11, 2017 and sell it today you would earn a total of  0.02  from holding Yobit CludCoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit CludCoin and Lykke SolarCoin
-0.15

Parameters

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 CludCoin USD and Lykke SolarCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Lykke SolarCoin USD and Yobit CludCoin 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 CludCoin USD are associated (or correlated) with Lykke SolarCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lykke SolarCoin USD has no effect on the direction of Yobit CludCoin i.e. Yobit CludCoin and Lykke SolarCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit CludCoin USD

  
11 

Risk-Adjusted Performance

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

Lykke SolarCoin USD

  
11 

Risk-Adjusted Performance

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