Pair Correlation Between Yobit TekCoin and Yobit eMark

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

Yobit

TekCoin on Yobit in USD
 0.000259 
(0.000111)  30%
Market Cap: 243

Yobit

eMark on Yobit in USD
 0.05801 
(0.02683)  31.62%
Market Cap: 4.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit TekCoin is expected to generate 3.95 times less return on investment than Yobit eMark. But when comparing it to its historical volatility, Yobit TekCoin USD is 1.79 times less risky than Yobit eMark. It trades about 0.13 of its potential returns per unit of risk. Yobit eMark USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest  3.6  in Yobit eMark USD on December 21, 2017 and sell it today you would earn a total of  2.2  from holding Yobit eMark USD or generate 61.14% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit TekCoin and Yobit eMark
-0.14

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit TekCoin USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit TekCoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Yobit TekCoin USD

Pair trading matchups for Yobit TekCoin

Yobit eMark USD

  
18 

Risk-Adjusted Performance

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

Yobit eMark USD

Pair trading matchups for Yobit eMark