Pair Correlation Between Yobit Dogecoin and Yobit GeoCoin

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

Yobit Dogecoin USD  vs.  Yobit GeoCoin USD

Yobit

Dogecoin on Yobit in USD
 0.00551 
0.000052  0.95%
Market Cap: 266
  

Yobit

GeoCoin on Yobit in USD
 0.07012 
0.06558  48.33%
Market Cap: 54.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Dogecoin USD is expected to under-perform the Yobit GeoCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Dogecoin USD is 5.57 times less risky than Yobit GeoCoin. The crypto trades about -0.02 of its potential returns per unit of risk. The Yobit GeoCoin USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  60.00  in Yobit GeoCoin USD on March 23, 2018 and sell it today you would lose (52.99)  from holding Yobit GeoCoin USD or give up 88.31% of portfolio value over 30 days.

Pair Corralation between Yobit Dogecoin and Yobit GeoCoin

0.17
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy98.36%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Dogecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit GeoCoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.