Correlation Analysis Between Yobit Rimbit and Yobit SibCoin

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

Yobit Rimbit USD  vs.  Yobit SibCoin USD

Yobit

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

Yobit

SibCoin on Yobit in USD
 0.49 
0.08  19.34%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rimbit is expected to generate 5.71 times less return on investment than Yobit SibCoin. In addition to that, Yobit Rimbit is 1.84 times more volatile than Yobit SibCoin USD. It trades about 0.01 of its total potential returns per unit of risk. Yobit SibCoin USD is currently generating about 0.14 per unit of volatility. If you would invest  41.00  in Yobit SibCoin USD on June 16, 2018 and sell it today you would earn a total of  8.00  from holding Yobit SibCoin USD or generate 19.51% return on investment over 30 days.

Pair Corralation between Yobit Rimbit and Yobit SibCoin

0.28
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.45%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Rimbit USD and Yobit SibCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit SibCoin 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 SibCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit SibCoin USD has no effect on the direction of Yobit Rimbit i.e. Yobit Rimbit and Yobit SibCoin 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 SibCoin USD  
9 

Risk-Adjusted Performance

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

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