Pair Correlation Between Yobit Decred and Yobit iBankCoin

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

Yobit

Decred on Yobit in USD
 99 
(16.21)  14.07%
Market Cap: 427.8 K

Yobit

iBankCoin on Yobit in USD
 0.025 
0.0003  1.21%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Decred is expected to generate 36.85 times less return on investment than Yobit iBankCoin. But when comparing it to its historical volatility, Yobit Decred USD is 9.01 times less risky than Yobit iBankCoin. It trades about 0.1 of its potential returns per unit of risk. Yobit iBankCoin USD is currently generating about 0.4 of returns per unit of risk over similar time horizon. If you would invest  0.12  in Yobit iBankCoin USD on December 17, 2017 and sell it today you would earn a total of  2.35  from holding Yobit iBankCoin USD or generate 1954.91% return on investment over 30 days.

Correlation Coefficient

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Decred USD

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Decred USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Yobit iBankCoin USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit iBankCoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.