Pair Correlation Between Yobit Reddcoin and Coinbase Bitcoin

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

Yobit Reddcoin USD  vs.  Coinbase Bitcoin USD

Yobit

Reddcoin on Yobit in USD
 0.007792 
0.000057  0.73%
Market Cap: 1.9 K
  

Coinbase

Bitcoin on Coinbase in USD
 8,889 
23.30  0.26%
Market Cap: 615.2 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Reddcoin USD is expected to generate 1.75 times more return on investment than Coinbase Bitcoin. However, Yobit Reddcoin is 1.75 times more volatile than Coinbase Bitcoin USD. It trades about -0.01 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.02 per unit of risk. If you would invest  0.98  in Yobit Reddcoin USD on March 24, 2018 and sell it today you would lose (0.19)  from holding Yobit Reddcoin USD or give up 19.23% of portfolio value over 30 days.

Pair Corralation between Yobit Reddcoin and Coinbase Bitcoin

0.77
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy98.36%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Reddcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Reddcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Coinbase Bitcoin USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1065.28

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