Pair Correlation Between Exmo Bitcoin and Yobit Bitcoin

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

Exmo

Bitcoin on Exmo in USD
 17,450 
1,104  6.75%
Market Cap: 170.8 B
 150 

Yobit

Bitcoin on Yobit in USD
 17,300 
560  3.35%
Market Cap: 252 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Bitcoin is expected to generate 1.03 times less return on investment than Yobit Bitcoin. But when comparing it to its historical volatility, Exmo Bitcoin USD is 1.25 times less risky than Yobit Bitcoin. It trades about 0.44 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest  777,778  in Yobit Bitcoin USD on November 15, 2017 and sell it today you would earn a total of  949,122  from holding Yobit Bitcoin USD or generate 122.03% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Exmo Bitcoin and Yobit Bitcoin
0.99

Parameters

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

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Exmo Bitcoin USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Bitcoin USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.

Yobit Bitcoin USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.