Pair Correlation Between Yobit Waves and Yobit GeoCoin |
This module allows you to analyze existing cross correlation between Yobit Waves USD and Yobit GeoCoin USD. You can compare the effects of market volatilities on Yobit Waves and Yobit GeoCoin 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 GeoCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Waves and Yobit GeoCoin.
| Time Horizon | 30 Days Login to change |
| Symbols | vs |
Yobit Waves USD vs. Yobit GeoCoin USD
YobitWaves on Yobit in USD 5.35
| YobitGeoCoin on Yobit in USD 0.14
|
Pair Volatility
Assuming 30 trading days horizon, Yobit Waves USD is expected to under-perform the Yobit GeoCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Waves USD is 7.09 times less risky than Yobit GeoCoin. The crypto trades about -0.1 of its potential returns per unit of risk. The Yobit GeoCoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 61.10 in Yobit GeoCoin USD on March 22, 2018 and sell it today you would lose (47.53) from holding Yobit GeoCoin USD or give up 77.79% of portfolio value over 30 days.
Pair Corralation between Yobit Waves and Yobit GeoCoin
0.75
| Time Period | 2 Months [change] |
| Direction | Positive |
| Strength | Significant |
| Accuracy | 98.36% |
| Values | Daily Returns |
Diversification
Poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Waves USD and Yobit GeoCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit GeoCoin 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 GeoCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit GeoCoin USD has no effect on the direction of Yobit Waves i.e. Yobit Waves and Yobit GeoCoin go up and down completely randomly.
Comparative Volatility
| Yobit Waves USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver 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 GeoCoin USD |
4 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Yobit GeoCoin USD
Pair trading matchups for Yobit GeoCoin
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See also your portfolio center. Please also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.