Correlation Analysis Between Yobit Golem and Yobit Dogecoin

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

Comparative Performance

Yobit Golem Network  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Golem Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Dogecoin USD  
0

Risk-Adjusted Performance

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

Yobit Golem and Yobit Dogecoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Golem Network Token USD  vs.  Yobit Dogecoin USD

Yobit

Golem Network Token on Yobit in USD

 0.07 
(0.003)  4.35%
Market Cap: 1.0
  

Yobit

Dogecoin on Yobit in USD

 0.002223 
0.00001  0.45%
Market Cap: 804
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Golem Network Token USD is expected to generate 2.16 times more return on investment than Yobit Dogecoin. However, Yobit Golem is 2.16 times more volatile than Yobit Dogecoin USD. It trades about -0.15 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about -0.39 per unit of risk. If you would invest  15.00  in Yobit Golem Network Token USD on November 14, 2018 and sell it today you would lose (8.40)  from holding Yobit Golem Network Token USD or give up 56.0% of portfolio value over 30 days.

Pair Corralation between Yobit Golem and Yobit Dogecoin

0.67
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy91.11%
ValuesDaily Returns

Diversification Opportunities for Yobit Golem and Yobit Dogecoin

Yobit Golem Network Token USD diversification synergy

Poor diversification

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

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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.


 
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