Pair Correlation Between Yobit Waves and Yobit Armory

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


Waves on Yobit in USD
(0.75)  6.94%
Market Cap: 362 K


Armory Coin on Yobit in USD
0.000034  12.78%
Market Cap: 1.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Waves USD is expected to under-perform the Yobit Armory. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Waves USD is 13.34 times less risky than Yobit Armory. The crypto trades about -0.18 of its potential returns per unit of risk. The Yobit Armory Coin USD is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest  0.05  in Yobit Armory Coin USD on December 22, 2017 and sell it today you would lose (0.01)  from holding Yobit Armory Coin USD or give up 33.33% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Waves and Yobit Armory


Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Modest diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit Waves USD


Risk-Adjusted Performance

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

Yobit Waves USD

Pair trading matchups for Yobit Waves

Yobit Armory Coin


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Armory Coin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Yobit Armory Coin USD

Pair trading matchups for Yobit Armory