Pair Correlation Between Yobit HempCoin and Yobit ClubCoin

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

Yobit

HempCoin on Yobit in USD
 0.0001241 
0.0000001  0.0806%
Market Cap: 1.7 K

Yobit

ClubCoin on Yobit in USD
 4.59 
1.5  48.54%
Market Cap: 537
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit HempCoin is expected to generate 2.11 times less return on investment than Yobit ClubCoin. But when comparing it to its historical volatility, Yobit HempCoin USD is 1.66 times less risky than Yobit ClubCoin. It trades about 0.17 of its potential returns per unit of risk. Yobit ClubCoin USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  335  in Yobit ClubCoin USD on December 17, 2017 and sell it today you would earn a total of  124  from holding Yobit ClubCoin USD or generate 37.01% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit HempCoin and Yobit ClubCoin
-0.21

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit HempCoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HempCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Yobit ClubCoin USD

  
14 

Risk-Adjusted Performance

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