Pair Correlation Between Yobit FistBump and Yobit Cerium

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

Yobit

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

Yobit

Cerium on Yobit in USD
 0.014 
(0.00028)  1.96%
Market Cap: 49.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit FistBump USD is expected to generate 1.05 times more return on investment than Yobit Cerium. However, Yobit FistBump is 1.05 times more volatile than Yobit Cerium USD. It trades about 0.2 of its potential returns per unit of risk. Yobit Cerium USD is currently generating about 0.21 per unit of risk. If you would invest  0.48  in Yobit FistBump USD on December 17, 2017 and sell it today you would lose (0.43)  from holding Yobit FistBump USD or give up 89.58% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit FistBump and Yobit Cerium
-0.53

Parameters

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

Diversification

Excellent diversification

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

  
13 

Risk-Adjusted Performance

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