Pair Correlation Between Yobit Rimbit and Yobit BitstarCoin

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

Yobit Rimbit USD  vs.  Yobit BitstarCoin USD

Yobit

Rimbit on Yobit in USD
 0.001057 
0.000043  3.91%
Market Cap: 0
  

Yobit

BitstarCoin on Yobit in USD
 0.05799 
0.02495  75.51%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rimbit is expected to generate 1.1 times less return on investment than Yobit BitstarCoin. In addition to that, Yobit Rimbit is 1.19 times more volatile than Yobit BitstarCoin USD. It trades about 0.11 of its total potential returns per unit of risk. Yobit BitstarCoin USD is currently generating about 0.14 per unit of volatility. If you would invest  3.18  in Yobit BitstarCoin USD on March 22, 2018 and sell it today you would earn a total of  2.62  from holding Yobit BitstarCoin USD or generate 82.36% return on investment over 30 days.

Pair Corralation between Yobit Rimbit and Yobit BitstarCoin

0.6
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Rimbit USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Yobit BitstarCoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitstarCoin USD are ranked lower than 9 (%) 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
$1072.96

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 World Markets Correlation module to find global opportunities by holding instruments from different markets.