Pair Correlation Between Cexio Ethereum and Yobit Positron

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

Cexio

Ethereum on Cexio in USD
 1,084 
176.01  19.4%
Market Cap: 12.9 B

Yobit

Positron on Yobit in USD
 13.5 
1.5  12.5%
Market Cap: 132
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 45.18 times less return on investment than Yobit Positron. But when comparing it to its historical volatility, Cexio Ethereum USD is 32.25 times less risky than Yobit Positron. It trades about 0.19 of its potential returns per unit of risk. Yobit Positron USD is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest  0.00  in Yobit Positron USD on December 17, 2017 and sell it today you would earn a total of  1,800  from holding Yobit Positron USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and Yobit Positron
0.92

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Ethereum USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit Positron USD

  
17 

Risk-Adjusted Performance

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