Pair Correlation Between Yobit VIP and Yobit TekCoin

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

Yobit

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

Yobit

TekCoin on Yobit in USD
 0.00032 
0.00005  18.52%
Market Cap: 243
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit VIP Tokens USD is expected to generate 1.34 times more return on investment than Yobit TekCoin. However, Yobit VIP is 1.34 times more volatile than Yobit TekCoin USD. It trades about 0.18 of its potential returns per unit of risk. Yobit TekCoin USD is currently generating about 0.14 per unit of risk. If you would invest  0.17  in Yobit VIP Tokens USD on December 22, 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 TekCoin
0.46

Parameters

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

Diversification

Very weak diversification

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

  
9 

Risk-Adjusted Performance

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

Yobit TekCoin USD

Pair trading matchups for Yobit TekCoin