Correlation Analysis Between Yobit Reddcoin and Yobit MaxCoin

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

Yobit Reddcoin USD  vs.  Yobit MaxCoin USD

Yobit

Reddcoin on Yobit in USD

 0.0036 
0.000092  2.49%
Market Cap: 12.0
  

Yobit

MaxCoin on Yobit in USD

 0.025 
0.005  16.67%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Reddcoin USD is expected to generate 0.81 times more return on investment than Yobit MaxCoin. However, Yobit Reddcoin USD is 1.23 times less risky than Yobit MaxCoin. It trades about 0.23 of its potential returns per unit of risk. Yobit MaxCoin USD is currently generating about -0.07 per unit of risk. If you would invest  0.26  in Yobit Reddcoin USD on August 22, 2018 and sell it today you would earn a total of  0.13  from holding Yobit Reddcoin USD or generate 48.75% return on investment over 30 days.

Pair Corralation between Yobit Reddcoin and Yobit MaxCoin

-0.41
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Reddcoin USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Reddcoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.
Yobit MaxCoin USD  
0 

Risk-Adjusted Performance

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

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