Pair Correlation Between Yobit Fitcoin and Yobit DebitCoin

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

Yobit

Fitcoin on Yobit in USD
 0.0008 
0.00005  6.67%
Market Cap: 7.0

Yobit

DebitCoin on Yobit in USD
 0.0097 
(0.0051)  34.46%
Market Cap: 48.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Fitcoin USD is expected to generate 5.52 times more return on investment than Yobit DebitCoin. However, Yobit Fitcoin is 5.52 times more volatile than Yobit DebitCoin USD. It trades about 0.3 of its potential returns per unit of risk. Yobit DebitCoin USD is currently generating about 0.19 per unit of risk. If you would invest  0.24  in Yobit Fitcoin USD on December 17, 2017 and sell it today you would lose (0.18)  from holding Yobit Fitcoin USD or give up 76.6% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Fitcoin and Yobit DebitCoin
-0.17

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy86.67%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Fitcoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Fitcoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

Yobit DebitCoin USD

  
12 

Risk-Adjusted Performance

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