Correlation Analysis Between Yobit MaxCoin and Coinbase Bitcoin

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

Yobit MaxCoin USD  vs.  Coinbase Bitcoin USD

Yobit

MaxCoin on Yobit in USD

 0.007 
(0.001)  12.50%
Market Cap: 2.0
  

Coinbase

Bitcoin on Coinbase in USD

 3,473 
82.19  2.42%
Market Cap: 55.3 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to under-perform the Coinbase Bitcoin. In addition to that, Yobit MaxCoin is 3.61 times more volatile than Coinbase Bitcoin USD. It trades about -0.11 of its total potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.27 per unit of volatility. If you would invest  621,800  in Coinbase Bitcoin USD on November 9, 2018 and sell it today you would lose (265,200)  from holding Coinbase Bitcoin USD or give up 42.65% of portfolio value over 30 days.

Pair Corralation between Yobit MaxCoin and Coinbase Bitcoin

0.87
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Yobit MaxCoin USD diversification synergy

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit MaxCoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Yobit MaxCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Coinbase Bitcoin USD  
0

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1036.58

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.


 
Search macroaxis.com