Pair Correlation Between Yobit Armory and BitTrex Ethereum

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

Yobit

Armory Coin on Yobit in USD
 0.000279 
0.000178  176.24%
Market Cap: 4.0

BitTrex

Ethereum Classic on BitTrex in USD
 32.76 
(8.24)  20.1%
Market Cap: 88.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Armory Coin USD is expected to generate 10.35 times more return on investment than BitTrex Ethereum. However, Yobit Armory is 10.35 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.2 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.07 per unit of risk. If you would invest  0.06  in Yobit Armory Coin USD on December 17, 2017 and sell it today you would lose (0.03)  from holding Yobit Armory Coin USD or give up 46.43% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Armory and BitTrex Ethereum
0.11

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.67%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Armory Coin

  
13 

Risk-Adjusted Performance

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

BitTrex Ethereum Cla

  
4 

Risk-Adjusted Performance

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