Pair Correlation Between Yobit GeoCoin and Yobit Armory

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

Yobit

GeoCoin on Yobit in USD
 7 
(1.2)  14.63%
Market Cap: 771

Yobit

Armory Coin on Yobit in USD
 0.000279 
0.000178  176.24%
Market Cap: 4.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 2.26 times more return on investment than Yobit Armory. However, Yobit GeoCoin is 2.26 times more volatile than Yobit Armory Coin USD. It trades about 0.22 of its potential returns per unit of risk. Yobit Armory Coin USD is currently generating about 0.2 per unit of risk. If you would invest  110  in Yobit GeoCoin USD on December 17, 2017 and sell it today you would earn a total of  590  from holding Yobit GeoCoin USD or generate 536.36% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit GeoCoin and Yobit Armory
-0.06

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy93.55%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit GeoCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit Armory Coin

  
13 

Risk-Adjusted Performance

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