Correlation Analysis Between Yobit Global and Yobit Waves

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

Yobit Global Currency Reserve   vs.  Yobit Waves USD

Yobit

Global Currency Reserve on Yobit in USD

 0.30 
0.0215  6.75%
Market Cap: 69.0
  

Yobit

Waves on Yobit in USD

 2.30 
0.09  3.77%
Market Cap: 425
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Global Currency Reserve USD is expected to generate 3.54 times more return on investment than Yobit Waves. However, Yobit Global is 3.54 times more volatile than Yobit Waves USD. It trades about 0.28 of its potential returns per unit of risk. Yobit Waves USD is currently generating about 0.03 per unit of risk. If you would invest  14.50  in Yobit Global Currency Reserve USD on August 25, 2018 and sell it today you would earn a total of  17.35  from holding Yobit Global Currency Reserve USD or generate 119.66% return on investment over 30 days.

Pair Corralation between Yobit Global and Yobit Waves

0.28
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Global Currency  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Global Currency Reserve USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.
Yobit Waves USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Waves USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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