Pair Correlation Between Yobit ClubCoin and BitTrex Ethereum

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

Yobit ClubCoin USD  vs.  BitTrex Ethereum Classic USD

Yobit

ClubCoin on Yobit in USD
 0.33 
0.0001  0.03%
Market Cap: 57.0
  

BitTrex

Ethereum Classic on BitTrex in USD
 18.43 
3.85  17.28%
Market Cap: 21.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 23.37 times more return on investment than BitTrex Ethereum. However, Yobit ClubCoin is 23.37 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.11 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.13 per unit of risk. If you would invest  163.00  in Yobit ClubCoin USD on March 26, 2018 and sell it today you would lose (117.86)  from holding Yobit ClubCoin USD or give up 72.31% of portfolio value over 30 days.

Pair Corralation between Yobit ClubCoin and BitTrex Ethereum

-0.09
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy93.33%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit ClubCoin 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 ClubCoin 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 ClubCoin 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 ClubCoin i.e. Yobit ClubCoin and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
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.

My Equities

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ExchangeNASDAQ
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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.