Pair Correlation Between Yobit VIP and Yobit Golem

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

Yobit

VIP Tokens on Yobit in USD
 0.002233 
(0.001149)  33.97%
Market Cap: 4.0

Yobit

Golem Network Token on Yobit in USD
 0.8 
(0.088)  9.91%
Market Cap: 395
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit VIP Tokens USD is expected to generate 3.85 times more return on investment than Yobit Golem. However, Yobit VIP is 3.85 times more volatile than Yobit Golem Network Token USD. It trades about 0.18 of its potential returns per unit of risk. Yobit Golem Network Token USD is currently generating about 0.14 per unit of risk. If you would invest  0.17  in Yobit VIP Tokens USD on December 21, 2017 and sell it today you would earn a total of  0.06  from holding Yobit VIP Tokens USD or generate 33.71% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit VIP and Yobit Golem
0.17

Parameters

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

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit VIP Tokens

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit VIP Tokens USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit VIP Tokens USD

Pair trading matchups for Yobit VIP

Yobit Golem Network

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Yobit Golem Network Token USD

Pair trading matchups for Yobit Golem