Pair Correlation Between Yobit EGOcoin and Yobit Ratecoin

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

Yobit

EGOcoin on Yobit in USD
 0.002 
(0.00007)  3.38%
Market Cap: 0

Yobit

Ratecoin on Yobit in USD
 0.007889 
0.001689  27.24%
Market Cap: 12.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EGOcoin is expected to generate 1.11 times less return on investment than Yobit Ratecoin. But when comparing it to its historical volatility, Yobit EGOcoin USD is 1.05 times less risky than Yobit Ratecoin. It trades about 0.21 of its potential returns per unit of risk. Yobit Ratecoin USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  0.38  in Yobit Ratecoin USD on December 22, 2017 and sell it today you would earn a total of  0.41  from holding Yobit Ratecoin USD or generate 105.98% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit EGOcoin and Yobit Ratecoin
0.28

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit EGOcoin USD

  
13 

Risk-Adjusted Performance

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

Yobit EGOcoin USD

Pair trading matchups for Yobit EGOcoin

Yobit Ratecoin USD

  
14 

Risk-Adjusted Performance

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

Yobit Ratecoin USD

Pair trading matchups for Yobit Ratecoin