Pair Correlation Between Yobit Rise and Yobit CometCoin

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

Yobit Rise USD  vs.  Yobit CometCoin USD

Yobit

Rise on Yobit in USD
 0.21 
0.00  0.00%
Market Cap: 14.0
  

Yobit

CometCoin on Yobit in USD
 0.15 
0.0228  17.94%
Market Cap: 756
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rise is expected to generate 3.8 times less return on investment than Yobit CometCoin. But when comparing it to its historical volatility, Yobit Rise USD is 1.11 times less risky than Yobit CometCoin. It trades about 0.03 of its potential returns per unit of risk. Yobit CometCoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  18.00  in Yobit CometCoin USD on March 22, 2018 and sell it today you would lose (3.01)  from holding Yobit CometCoin USD or give up 16.72% of portfolio value over 30 days.

Pair Corralation between Yobit Rise and Yobit CometCoin

-0.4
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy34.43%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Rise USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Rise USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit CometCoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CometCoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Headlines Timeline module to stay connected to all market stories and filter out noise. drill down to analyze hype elasticity.