Correlation Analysis Between Yobit Global and Yobit Namecoin

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

Comparative Performance

Yobit Global Currency  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Global Currency Reserve USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Namecoin USD  
0

Risk-Adjusted Performance

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

Yobit Global and Yobit Namecoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Global Currency Reserve   vs.  Yobit Namecoin USD

Yobit

Global Currency Reserve on Yobit in USD

 0.0275 
0.00  0.00%
Market Cap: 0
  

Yobit

Namecoin on Yobit in USD

 0.47 
(0.03)  6.00%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Global Currency Reserve USD is expected to under-perform the Yobit Namecoin. In addition to that, Yobit Global is 1.54 times more volatile than Yobit Namecoin USD. It trades about -0.27 of its total potential returns per unit of risk. Yobit Namecoin USD is currently generating about -0.03 per unit of volatility. If you would invest  63.00  in Yobit Namecoin USD on November 14, 2018 and sell it today you would lose (16.00)  from holding Yobit Namecoin USD or give up 25.4% of portfolio value over 30 days.

Pair Corralation between Yobit Global and Yobit Namecoin

0.82
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy91.11%
ValuesDaily Returns

Diversification Opportunities for Yobit Global and Yobit Namecoin

Yobit Global Currency Reserve  diversification synergy

Very poor diversification

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

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See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.


 
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