Pair Correlation Between Yobit Reddcoin and Yobit SibCoin

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

Yobit Reddcoin USD  vs.  Yobit SibCoin USD

Yobit

Reddcoin on Yobit in USD
 0.008094 
0.000781  10.68%
Market Cap: 3.9 K
  

Yobit

SibCoin on Yobit in USD
 1.34 
0.06  4.69%
Market Cap: 3.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Reddcoin USD is expected to generate 0.72 times more return on investment than Yobit SibCoin. However, Yobit Reddcoin USD is 1.38 times less risky than Yobit SibCoin. It trades about -0.01 of its potential returns per unit of risk. Yobit SibCoin USD is currently generating about -0.02 per unit of risk. If you would invest  0.91  in Yobit Reddcoin USD on March 23, 2018 and sell it today you would lose (0.18)  from holding Yobit Reddcoin USD or give up 19.64% of portfolio value over 30 days.

Pair Corralation between Yobit Reddcoin and Yobit SibCoin

0.61
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 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 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 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 Reddcoin i.e. Yobit Reddcoin and Yobit SibCoin 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.
Yobit SibCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit SibCoin 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 World Markets Correlation module to find global opportunities by holding instruments from different markets.