Pair Correlation Between Yobit CometCoin and Yobit BitstarCoin

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

Yobit CometCoin USD  vs.  Yobit BitstarCoin USD

Yobit

CometCoin on Yobit in USD
 0.13 
0.00  0.00%
Market Cap: 39.0
  

Yobit

BitstarCoin on Yobit in USD
 0.03304 
0.00304  10.13%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CometCoin USD is expected to generate 0.98 times more return on investment than Yobit BitstarCoin. However, Yobit CometCoin USD is 1.02 times less risky than Yobit BitstarCoin. It trades about 0.11 of its potential returns per unit of risk. Yobit BitstarCoin USD is currently generating about 0.07 per unit of risk. If you would invest  18.00  in Yobit CometCoin USD on March 21, 2018 and sell it today you would lose (5.29)  from holding Yobit CometCoin USD or give up 29.39% of portfolio value over 30 days.

Pair Corralation between Yobit CometCoin and Yobit BitstarCoin

0.47
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy90.16%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit CometCoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CometCoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Yobit BitstarCoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitstarCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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