Pair Correlation Between Yobit Rimbit and Yobit iBankCoin

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

Yobit

Rimbit on Yobit in USD
 0.0132 
(0.00801)  37.77%
Market Cap: 950

Yobit

iBankCoin on Yobit in USD
 0.025 
0.0003  1.21%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rimbit USD is expected to generate 3.31 times more return on investment than Yobit iBankCoin. However, Yobit Rimbit is 3.31 times more volatile than Yobit iBankCoin USD. It trades about 0.37 of its potential returns per unit of risk. Yobit iBankCoin USD is currently generating about 0.4 per unit of risk. If you would invest  0.02  in Yobit Rimbit USD on December 17, 2017 and sell it today you would earn a total of  1.59  from holding Yobit Rimbit USD or generate 7835.96% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Rimbit and Yobit iBankCoin
0.51

Parameters

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

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Rimbit USD

  
24 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.

Yobit iBankCoin USD

  
26 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit iBankCoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.