Pair Correlation Between Yobit Ratecoin and Yobit CometCoin

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

Yobit

Ratecoin on Yobit in USD
 0.007889 
0.001689  27.24%
Market Cap: 12.0

Yobit

CometCoin on Yobit in USD
 0.3 
(0.36)  54.55%
Market Cap: 4.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ratecoin is expected to generate 1.54 times less return on investment than Yobit CometCoin. But when comparing it to its historical volatility, Yobit Ratecoin USD is 1.3 times less risky than Yobit CometCoin. It trades about 0.23 of its potential returns per unit of risk. Yobit CometCoin USD is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest  13.5  in Yobit CometCoin USD on December 22, 2017 and sell it today you would earn a total of  16.5  from holding Yobit CometCoin USD or generate 122.22% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Ratecoin and Yobit CometCoin
-0.08

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Ratecoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ratecoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit Ratecoin USD

Pair trading matchups for Yobit Ratecoin

Yobit CometCoin USD

  
17 

Risk-Adjusted Performance

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

Yobit CometCoin USD

Pair trading matchups for Yobit CometCoin