Correlation Analysis Between Yobit MaxCoin and Yobit Waves

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

Yobit MaxCoin USD  vs.  Yobit Waves USD

Yobit

MaxCoin on Yobit in USD

 0.00759 
0.000384  5.33%
Market Cap: 2.0
  

Yobit

Waves on Yobit in USD

 1.95 
0.18  10.17%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to under-perform the Yobit Waves. In addition to that, Yobit MaxCoin is 1.52 times more volatile than Yobit Waves USD. It trades about -0.17 of its total potential returns per unit of risk. Yobit Waves USD is currently generating about 0.05 per unit of volatility. If you would invest  202.00  in Yobit Waves USD on November 12, 2018 and sell it today you would earn a total of  6.00  from holding Yobit Waves USD or generate 2.97% return on investment over 30 days.

Pair Corralation between Yobit MaxCoin and Yobit Waves

0.67
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.67%
ValuesDaily Returns

Diversification

Yobit MaxCoin USD diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit MaxCoin USD and Yobit Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Waves 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 Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Waves USD has no effect on the direction of Yobit MaxCoin i.e. Yobit MaxCoin and Yobit Waves 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 Waves USD  
3

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Waves USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

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ExchangeNASDAQ
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