Correlation Analysis Between Yobit Waves and Coinbase Bitcoin

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

Yobit Waves USD  vs.  Coinbase Bitcoin USD


Waves on Yobit in USD

0.02  0.87%
Market Cap: 425


Bitcoin on Coinbase in USD

77.73  1.16%
Market Cap: 176.3 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Waves USD is expected to generate 1.78 times more return on investment than Coinbase Bitcoin. However, Yobit Waves is 1.78 times more volatile than Coinbase Bitcoin USD. It trades about 0.02 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.05 per unit of risk. If you would invest  229.00  in Yobit Waves USD on August 25, 2018 and sell it today you would lose (1.00)  from holding Yobit Waves USD or give up 0.44% of portfolio value over 30 days.

Pair Corralation between Yobit Waves and Coinbase Bitcoin

Time Period1 Month [change]
ValuesDaily Returns


Average diversification

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

Comparative Volatility

 Predicted Return Density 
Yobit Waves USD  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.