This module allows you to analyze existing cross correlation between BitTrex Ethereum Classic USD and Yobit CometCoin USD. You can compare the effects of market volatilities on BitTrex Ethereum 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 BitTrex Ethereum with a short position of Yobit CometCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of BitTrex Ethereum and Yobit CometCoin.
BitTrex Ethereum Classic USD vs. Yobit CometCoin USD
Ethereum Classic on BitTrex in USD
Market Cap: 21.5 M
CometCoin on Yobit in USD
Market Cap: 756
Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to under-perform the Yobit CometCoin. But the crypto apears to be less risky and, when comparing its historical volatility, BitTrex Ethereum Classic USD is 4.73 times less risky than Yobit CometCoin. The crypto trades about -0.13 of its potential returns per unit of risk. The Yobit CometCoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 18.00 in Yobit CometCoin USD on March 22, 2018 and sell it today you would lose (3.01) from holding Yobit CometCoin USD or give up 16.72% of portfolio value over 30 days.
Pair Corralation between BitTrex Ethereum and Yobit CometCoin
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum Classic 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 BitTrex 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 BitTrex Ethereum Classic 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 BitTrex Ethereum i.e. BitTrex Ethereum and Yobit CometCoin go up and down completely randomly.
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