Correlation Analysis Between Yobit SibCoin and Yobit Reddcoin

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

Yobit SibCoin USD  vs.  Yobit Reddcoin USD

Yobit

SibCoin on Yobit in USD

 0.17 
0.025  12.50%
Market Cap: 12.0
  

Yobit

Reddcoin on Yobit in USD

 0.003348 
0.000243  7.83%
Market Cap: 4.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SibCoin USD is expected to under-perform the Yobit Reddcoin. In addition to that, Yobit SibCoin is 1.65 times more volatile than Yobit Reddcoin USD. It trades about -0.12 of its total potential returns per unit of risk. Yobit Reddcoin USD is currently generating about 0.03 per unit of volatility. If you would invest  0.34  in Yobit Reddcoin USD on September 20, 2018 and sell it today you would lose  0.00  from holding Yobit Reddcoin USD or give up 0.27% of portfolio value over 30 days.

Pair Corralation between Yobit SibCoin and Yobit Reddcoin

0.33
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
Yobit Reddcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Reddcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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