Pair Correlation Between Yobit Creva and Yobit DebitCoin

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

Yobit

Creva Coin on Yobit in USD
 0.0005556 
(0.0000004)  0.0719%
Market Cap: 3.0

Yobit

DebitCoin on Yobit in USD
 0.01 
(0.0009)  8.26%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Creva is expected to generate 6.89 times less return on investment than Yobit DebitCoin. But when comparing it to its historical volatility, Yobit Creva Coin USD is 4.52 times less risky than Yobit DebitCoin. It trades about 0.13 of its potential returns per unit of risk. Yobit DebitCoin USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  0.26  in Yobit DebitCoin USD on November 17, 2017 and sell it today you would earn a total of  0.74  from holding Yobit DebitCoin USD or generate 280.52% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Creva and Yobit DebitCoin
0.44

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Creva Coin

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Creva Coin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Yobit DebitCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.