Pair Correlation Between Yobit SpaceCoin and Yobit BitBean

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

Yobit

SpaceCoin on Yobit in USD
 0.01101 
(0.02779)  71.62%
Market Cap: 300

Yobit

BitBean on Yobit in USD
 0.028 
0.009  47.37%
Market Cap: 19.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SpaceCoin USD is expected to generate 6.57 times more return on investment than Yobit BitBean. However, Yobit SpaceCoin is 6.57 times more volatile than Yobit BitBean USD. It trades about 0.29 of its potential returns per unit of risk. Yobit BitBean USD is currently generating about 0.24 per unit of risk. If you would invest  0.15  in Yobit SpaceCoin USD on December 18, 2017 and sell it today you would earn a total of  0.95  from holding Yobit SpaceCoin USD or generate 626.73% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit SpaceCoin and Yobit BitBean
-0.14

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy93.33%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit SpaceCoin USD

  
18 

Risk-Adjusted Performance

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

Yobit SpaceCoin USD

Pair trading matchups for Yobit SpaceCoin

Yobit BitBean USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit BitBean USD

Pair trading matchups for Yobit BitBean