Pair Correlation Between Yobit DebitCoin and Gatecoin Litecoin

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

Yobit

DebitCoin on Yobit in USD
 0.0148 
0.0051  52.58%
Market Cap: 48.0

Gatecoin

Litecoin on Gatecoin in USD
 222.22 
(27.78)  11.11%
Market Cap: 1.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to generate 3.87 times more return on investment than Gatecoin Litecoin. However, Yobit DebitCoin is 3.87 times more volatile than Gatecoin Litecoin USD. It trades about 0.21 of its potential returns per unit of risk. Gatecoin Litecoin USD is currently generating about -0.04 per unit of risk. If you would invest  0.9  in Yobit DebitCoin USD on December 18, 2017 and sell it today you would earn a total of  0.07  from holding Yobit DebitCoin USD or generate 7.77% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit DebitCoin and Gatecoin Litecoin
-0.19

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit DebitCoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

Gatecoin Litecoin USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Gatecoin Litecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.