Correlation Analysis Between Yobit Bitcoin and Exmo Bitcoin

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

Comparative Performance

Yobit Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Exmo Bitcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Exmo Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Yobit Bitcoin and Exmo Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Bitcoin USD  vs.  Exmo Bitcoin USD

Yobit

Bitcoin on Yobit in USD

 3,504 
20.22  0.58%
Market Cap: 125.8 M
  

Exmo

Bitcoin on Exmo in USD

 3,482 
132.66  3.96%
Market Cap: 7.1 B
 22.64 
0.65% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to under-perform the Exmo Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Bitcoin USD is 1.6 times less risky than Exmo Bitcoin. The crypto trades about -0.52 of its potential returns per unit of risk. The Exmo Bitcoin USD is currently generating about -0.31 of returns per unit of risk over similar time horizon. If you would invest  665,100  in Exmo Bitcoin USD on November 17, 2018 and sell it today you would lose (330,096)  from holding Exmo Bitcoin USD or give up 49.63% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcoin and Exmo Bitcoin

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit Bitcoin and Exmo Bitcoin

Yobit Bitcoin USD diversification synergy

No risk reduction

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

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