Pair Correlation Between Yobit LeaCoin and Yobit DebitCoin

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

Yobit

LeaCoin on Yobit in USD
 0.0016 
0.0007  77.78%
Market Cap: 8.0

Yobit

DebitCoin on Yobit in USD
 0.0097 
(0.0051)  34.46%
Market Cap: 48.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit LeaCoin USD is expected to generate 4.14 times more return on investment than Yobit DebitCoin. However, Yobit LeaCoin is 4.14 times more volatile than Yobit DebitCoin USD. It trades about 0.23 of its potential returns per unit of risk. Yobit DebitCoin USD is currently generating about 0.19 per unit of risk. If you would invest  0.05  in Yobit LeaCoin USD on December 17, 2017 and sell it today you would earn a total of  0.04  from holding Yobit LeaCoin USD or generate 80.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit LeaCoin and Yobit DebitCoin
-0.03

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit LeaCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit LeaCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit DebitCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.