Correlation Analysis Between Yobit Ethereum and bingcoins Ethereum

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

Comparative Performance

Yobit Ethereum USD  

Risk-Adjusted Performance

Over the last 30 days Yobit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
bingcoins Ethereum USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in bingcoins Ethereum USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, bingcoins Ethereum layed out solid returns over the last few months and may actually be approaching a breakup point.

Yobit Ethereum and bingcoins Ethereum Volatility Contrast

 Predicted Return Density 

Yobit Ethereum USD  vs.  bingcoins Ethereum USD


Ethereum on Yobit in USD

2.84  1.41%
Market Cap: 9.3 M


Ethereum on bingcoins in USD

21.77  11.42%
Market Cap: 18.8 M
4.17% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum USD is expected to under-perform the bingcoins Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum USD is 24.95 times less risky than bingcoins Ethereum. The crypto trades about -0.16 of its potential returns per unit of risk. The bingcoins Ethereum USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  0.00  in bingcoins Ethereum USD on July 24, 2019 and sell it today you would earn a total of  19,057  from holding bingcoins Ethereum USD or generate 9.223372036854776E16% return on investment over 30 days.

Pair Corralation between Yobit Ethereum and bingcoins Ethereum

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Yobit Ethereum and bingcoins Ethereum

Yobit Ethereum USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ethereum USD and bingcoins Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on bingcoins Ethereum USD and Yobit 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 Yobit Ethereum USD are associated (or correlated) with bingcoins Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bingcoins Ethereum USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and bingcoins Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.