Correlation Analysis Between Yobit Waves and Yobit ClubCoin

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

Yobit Waves USD  vs.  Yobit ClubCoin USD

Yobit

Waves on Yobit in USD

 2.06 
0.03  1.44%
Market Cap: 843
  

Yobit

ClubCoin on Yobit in USD

 1.16 
0.10  7.94%
Market Cap: 82.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Waves USD is expected to under-perform the Yobit ClubCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Waves USD is 8.25 times less risky than Yobit ClubCoin. The crypto trades about -0.14 of its potential returns per unit of risk. The Yobit ClubCoin USD is currently generating about 0.3 of returns per unit of risk over similar time horizon. If you would invest  33.20  in Yobit ClubCoin USD on September 19, 2018 and sell it today you would earn a total of  82.80  from holding Yobit ClubCoin USD or generate 249.4% return on investment over 30 days.

Pair Corralation between Yobit Waves and Yobit ClubCoin

-0.82
Time Period1 Month [change]
DirectionNegative 
StrengthSignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Waves USD  
0 

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 ClubCoin USD  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

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ExchangeNASDAQ
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