Pair Correlation Between Yobit DarkGold and Yobit Bitshares

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

Yobit

DarkGold on Yobit in USD
 0.5 
0.2  66.61%
Market Cap: 30.0

Yobit

Bitshares on Yobit in USD
 0.85 
0.12  15.93%
Market Cap: 5.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DarkGold USD is expected to under-perform the Yobit Bitshares. In addition to that, Yobit DarkGold is 1.4 times more volatile than Yobit Bitshares USD. It trades about 0.0 of its total potential returns per unit of risk. Yobit Bitshares USD is currently generating about 0.19 per unit of volatility. If you would invest  40.17  in Yobit Bitshares USD on November 14, 2017 and sell it today you would earn a total of  44.53  from holding Yobit Bitshares USD or generate 110.85% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit DarkGold and Yobit Bitshares
-0.6

Parameters

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

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit DarkGold USD

  
0 

Risk-Adjusted Performance

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

Yobit Bitshares USD

  
12 

Risk-Adjusted Performance

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