Pair Correlation Between Bitstamp Ethereum and Yobit Ethereum

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

Bitstamp

Ethereum on Bitstamp in USD
 700.39 
(1.97)  0.28%
Market Cap: 746.3 M
 3.39 

Yobit

Ethereum on Yobit in USD
 697 
1.72  0.25%
Market Cap: 508.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum is expected to generate 1.06 times less return on investment than Yobit Ethereum. In addition to that, Bitstamp Ethereum is 1.24 times more volatile than Yobit Ethereum USD. It trades about 0.31 of its total potential returns per unit of risk. Yobit Ethereum USD is currently generating about 0.41 per unit of volatility. If you would invest  32,286  in Yobit Ethereum USD on November 16, 2017 and sell it today you would earn a total of  37,242  from holding Yobit Ethereum USD or generate 115.35% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitstamp Ethereum and Yobit Ethereum
0.89

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.77%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Bitstamp Ethereum USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitstamp Ethereum USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

Yobit Ethereum USD

  
27 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ethereum USD are ranked lower than 27 (%) of all global equities and portfolios over the last 30 days.