Pair Correlation Between Yobit Creva and Yobit Dogecoin

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

Yobit

Creva Coin on Yobit in USD
 0.001091 
0.000124  12.82%
Market Cap: 3.0

Yobit

Dogecoin on Yobit in USD
 0.00364 
0.00055  17.8%
Market Cap: 174
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Creva Coin USD is expected to generate 4.76 times more return on investment than Yobit Dogecoin. However, Yobit Creva is 4.76 times more volatile than Yobit Dogecoin USD. It trades about 0.22 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about 0.47 per unit of risk. If you would invest  0.05  in Yobit Creva Coin USD on November 13, 2017 and sell it today you would earn a total of  0.05  from holding Yobit Creva Coin USD or generate 114.41% return on investment over 30 days.

Correlation Coefficient

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Creva Coin

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Creva Coin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit Dogecoin USD

  
30 

Risk-Adjusted Performance

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