Correlation Analysis Between Yobit Namecoin and Yobit MaxCoin

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

Yobit Namecoin USD  vs.  Yobit MaxCoin USD

Yobit

Namecoin on Yobit in USD
 1.13 
0.13  10.32%
Market Cap: 211
  

Yobit

MaxCoin on Yobit in USD
 0.07 
0.00303  4.89%
Market Cap: 15.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Namecoin USD is expected to under-perform the Yobit MaxCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Namecoin USD is 1.16 times less risky than Yobit MaxCoin. The crypto trades about -0.01 of its potential returns per unit of risk. The Yobit MaxCoin USD is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  7.00  in Yobit MaxCoin USD on June 16, 2018 and sell it today you would lose (0.50)  from holding Yobit MaxCoin USD or give up 7.14% of portfolio value over 30 days.

Pair Corralation between Yobit Namecoin and Yobit MaxCoin

0.05
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Namecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Namecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit MaxCoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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
$1188.82

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 Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.