Correlation Analysis Between Yobit MaxCoin and Yobit Reddcoin

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

Yobit MaxCoin USD  vs.  Yobit Reddcoin USD

Yobit

MaxCoin on Yobit in USD

 0.00759 
0.000384  5.33%
Market Cap: 2.0
  

Yobit

Reddcoin on Yobit in USD

 0.001176 
(0.000025)  2.08%
Market Cap: 95.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to under-perform the Yobit Reddcoin. In addition to that, Yobit MaxCoin is 1.71 times more volatile than Yobit Reddcoin USD. It trades about -0.17 of its total potential returns per unit of risk. Yobit Reddcoin USD is currently generating about -0.25 per unit of volatility. If you would invest  0.35  in Yobit Reddcoin USD on November 12, 2018 and sell it today you would lose (0.23)  from holding Yobit Reddcoin USD or give up 66.34% of portfolio value over 30 days.

Pair Corralation between Yobit MaxCoin and Yobit Reddcoin

0.94
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.67%
ValuesDaily Returns

Diversification

Yobit MaxCoin USD diversification synergy

Almost no diversification

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

Risk-Adjusted Performance

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

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