Pair Correlation Between Yobit Rise and Yobit Ubiqoin

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

Yobit

Rise on Yobit in USD
 1 
(0.11)  9.91%
Market Cap: 141

Yobit

Ubiqoin on Yobit in USD
 0.00667 
(0.00221)  24.89%
Market Cap: 13.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Rise is expected to generate 2.8 times less return on investment than Yobit Ubiqoin. But when comparing it to its historical volatility, Yobit Rise USD is 2.36 times less risky than Yobit Ubiqoin. It trades about 0.15 of its potential returns per unit of risk. Yobit Ubiqoin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  1.44  in Yobit Ubiqoin USD on December 22, 2017 and sell it today you would lose (0.78)  from holding Yobit Ubiqoin USD or give up 53.81% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Rise and Yobit Ubiqoin
-0.36

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
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 Ubiqoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Ubiqoin 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 Ubiqoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Ubiqoin USD has no effect on the direction of Yobit Rise i.e. Yobit Rise and Yobit Ubiqoin 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 Rise USD

Pair trading matchups for Yobit Rise

Yobit Ubiqoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ubiqoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

Yobit Ubiqoin USD

Pair trading matchups for Yobit Ubiqoin