Pair Correlation Between Yobit HempCoin and Yobit SibCoin

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

Yobit

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

Yobit

SibCoin on Yobit in USD
 2.8 
(0.31)  9.97%
Market Cap: 1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit HempCoin USD is expected to generate 4.97 times more return on investment than Yobit SibCoin. However, Yobit HempCoin is 4.97 times more volatile than Yobit SibCoin USD. It trades about 0.16 of its potential returns per unit of risk. Yobit SibCoin USD is currently generating about 0.04 per unit of risk. If you would invest  0.02  in Yobit HempCoin USD on December 18, 2017 and sell it today you would lose (0.01)  from holding Yobit HempCoin USD or give up 34.68% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit HempCoin and Yobit SibCoin
0.07

Parameters

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

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit HempCoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HempCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Yobit HempCoin USD

Pair trading matchups for Yobit HempCoin

Yobit SibCoin USD

  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SibCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Yobit SibCoin USD

Pair trading matchups for Yobit SibCoin