Pair Correlation Between Yobit Rise and Yobit Fitcoin

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

Yobit

Rise on Yobit in USD
 0.8 
(0.31)  27.93%
Market Cap: 141

Yobit

Fitcoin on Yobit in USD
 0.00034 
(0.00046)  57.5%
Market Cap: 7.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rise is expected to generate 16.94 times less return on investment than Yobit Fitcoin. But when comparing it to its historical volatility, Yobit Rise USD is 9.74 times less risky than Yobit Fitcoin. It trades about 0.16 of its potential returns per unit of risk. Yobit Fitcoin USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest  0.24  in Yobit Fitcoin USD on December 17, 2017 and sell it today you would lose (0.16)  from holding Yobit Fitcoin USD or give up 65.96% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Rise and Yobit Fitcoin
0.07

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Rise USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rise USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

Yobit Fitcoin USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Fitcoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.