Correlation Analysis Between Yobit MaxCoin and Yobit Dogecoin

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

Yobit MaxCoin USD  vs.  Yobit Dogecoin USD

Yobit

MaxCoin on Yobit in USD

 0.026 
0.001  4.00%
Market Cap: 1.0
  

Yobit

Dogecoin on Yobit in USD

 0.005842 
0.000065  1.10%
Market Cap: 11.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to under-perform the Yobit Dogecoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit MaxCoin USD is 1.11 times less risky than Yobit Dogecoin. The crypto trades about -0.06 of its potential returns per unit of risk. The Yobit Dogecoin USD is currently generating about 0.34 of returns per unit of risk over similar time horizon. If you would invest  0.25  in Yobit Dogecoin USD on August 23, 2018 and sell it today you would earn a total of  0.34  from holding Yobit Dogecoin USD or generate 136.52% return on investment over 30 days.

Pair Corralation between Yobit MaxCoin and Yobit Dogecoin

-0.44
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit MaxCoin 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 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 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 MaxCoin i.e. Yobit MaxCoin and Yobit Dogecoin 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.
Yobit Dogecoin USD  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dogecoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.

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