Correlation Analysis Between Yobit Global and Coinroom ZCoin

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

Yobit Global Currency Reserve   vs.  Coinroom ZCoin USD

Yobit

Global Currency Reserve on Yobit in USD
 0.06 
0.001  1.56%
Market Cap: 20.0
  

Coinroom

ZCoin on Coinroom in USD
 16.88 
0.82  4.63%
Market Cap: 58.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Global Currency Reserve USD is expected to generate 3.98 times more return on investment than Coinroom ZCoin. However, Yobit Global is 3.98 times more volatile than Coinroom ZCoin USD. It trades about 0.14 of its potential returns per unit of risk. Coinroom ZCoin USD is currently generating about -0.19 per unit of risk. If you would invest  6.00  in Yobit Global Currency Reserve USD on May 26, 2018 and sell it today you would earn a total of  0.30  from holding Yobit Global Currency Reserve USD or generate 5.0% return on investment over 30 days.

Pair Corralation between Yobit Global and Coinroom ZCoin

-0.12
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Global Currency  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Global Currency Reserve USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Coinroom ZCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Coinroom ZCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1155.48

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.