Correlation Analysis Between BitTrex Ethereum and Yobit Rimbit

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

BitTrex Ethereum Classic USD  vs.  Yobit Rimbit USD

BitTrex

Ethereum Classic on BitTrex in USD
 15.23 
0.12  0.79%
Market Cap: 97.6 K
  

Yobit

Rimbit on Yobit in USD
 0.001938 
0.00002  1.02%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to under-perform the Yobit Rimbit. But the crypto apears to be less risky and, when comparing its historical volatility, BitTrex Ethereum Classic USD is 6.27 times less risky than Yobit Rimbit. The crypto trades about -0.01 of its potential returns per unit of risk. The Yobit Rimbit USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  0.11  in Yobit Rimbit USD on May 21, 2018 and sell it today you would earn a total of  0.08  from holding Yobit Rimbit USD or generate 75.54% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Yobit Rimbit

-0.37
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
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 Rimbit USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Rimbit 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 Rimbit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Rimbit USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and Yobit Rimbit 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 Rimbit USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
Alphabet cannot be verified against its exchange. It appears that Alphabet is not available for investing at this time. Please verify the symbol is currently traded on NASDAQ. If you still believe the symbol you are trying to look up is valid please let us know and we will check it as soon as possible.

Try Other Suggestions

GTVJXGoldman Sachs Target Date 2030Fund
GTVMXGoldman Sachs Target Date 2040Fund
GTVOXGoldman Sachs Target Date 2035Fund
GTVSXGoldman Sachs Target Date 2050Fund
FPPXXGovernment Obligations Fund ClFund
ELKMFGold Road Resources LimitedStock
GCGAXGoldman Sachs Concentrated GroFund

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.