Pair Correlation Between Yobit FistBump and Yobit BitstarCoin

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

Yobit

FistBump on Yobit in USD
 0.0005001 
(0.0004999)  49.99%
Market Cap: 1.0

Yobit

BitstarCoin on Yobit in USD
 0.16 
0.09  128.57%
Market Cap: 34.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit FistBump is expected to generate 2.12 times less return on investment than Yobit BitstarCoin. But when comparing it to its historical volatility, Yobit FistBump USD is 1.33 times less risky than Yobit BitstarCoin. It trades about 0.2 of its potential returns per unit of risk. Yobit BitstarCoin USD is currently generating about 0.33 of returns per unit of risk over similar time horizon. If you would invest  2.21  in Yobit BitstarCoin USD on December 17, 2017 and sell it today you would earn a total of  13.79  from holding Yobit BitstarCoin USD or generate 625.29% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit FistBump and Yobit BitstarCoin
-0.24

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit FistBump USD

  
13 

Risk-Adjusted Performance

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

Yobit BitstarCoin USD

  
21 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitstarCoin USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.