Correlation Analysis Between Yobit Rimbit and Yobit Namecoin

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

Yobit Rimbit USD  vs.  Yobit Namecoin USD

Yobit

Rimbit on Yobit in USD
 0.001561 
0.000321  25.89%
Market Cap: 1.0
  

Yobit

Namecoin on Yobit in USD
 0.95 
0.19  16.67%
Market Cap: 211
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rimbit USD is expected to generate 1.36 times more return on investment than Yobit Namecoin. However, Yobit Rimbit is 1.36 times more volatile than Yobit Namecoin USD. It trades about 0.01 of its potential returns per unit of risk. Yobit Namecoin USD is currently generating about -0.08 per unit of risk. If you would invest  0.19  in Yobit Rimbit USD on June 16, 2018 and sell it today you would lose (0.04)  from holding Yobit Rimbit USD or give up 19.45% of portfolio value over 30 days.

Pair Corralation between Yobit Rimbit and Yobit Namecoin

0.15
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Rimbit USD  
0 

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.