Correlation Analysis Between BitTrex Ethereum and Yobit MaxCoin

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

BitTrex Ethereum Classic USD  vs.  Yobit MaxCoin USD

BitTrex

Ethereum Classic on BitTrex in USD

 9.55 
0.30  3.24%
Market Cap: 34.6 K
  

Yobit

MaxCoin on Yobit in USD

 0.02488 
0.00012  0.48%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to under-perform the Yobit MaxCoin. But the crypto apears to be less risky and, when comparing its historical volatility, BitTrex Ethereum Classic USD is 8.05 times less risky than Yobit MaxCoin. The crypto trades about -0.14 of its potential returns per unit of risk. The Yobit MaxCoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  3.00  in Yobit MaxCoin USD on September 15, 2018 and sell it today you would lose (0.50)  from holding Yobit MaxCoin USD or give up 16.67% of portfolio value over 30 days.

Pair Corralation between BitTrex Ethereum and Yobit MaxCoin

-0.43
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy67.74%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Ethereum Cla  
0 

Risk-Adjusted Performance

Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit MaxCoin USD  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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