Pair Correlation Between Yobit Creva and Coinbase Bitcoin

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

Yobit

Creva Coin on Yobit in USD
 0.0008889 
(0.0000001)  0.0112%
Market Cap: 3.0

Coinbase

Bitcoin on Coinbase in USD
 17,266 
(5.81)  0.0336%
Market Cap: 7429.6 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Creva Coin USD is expected to generate 5.08 times more return on investment than Coinbase Bitcoin. However, Yobit Creva is 5.08 times more volatile than Coinbase Bitcoin USD. It trades about 0.14 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.39 per unit of risk. If you would invest  0.29  in Yobit Creva Coin USD on November 12, 2017 and sell it today you would lose (0.2)  from holding Yobit Creva Coin USD or give up 69.35% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Creva and Coinbase Bitcoin
-0.45

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Creva Coin

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Creva Coin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Coinbase Bitcoin USD

  
25 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.