Correlation Analysis Between Yobit Ethereum and Exmo Ethereum

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

Comparative Performance

Yobit Ethereum USD  
00

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.
Exmo Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo 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 essential indicators remain comparatively unchanging which may send shares a bit higher in September 2019. The late uproar may also be a sign of mid-term up-swing for the entity leadership.

Yobit Ethereum and Exmo Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Ethereum USD  vs.  Exmo Ethereum USD

Yobit

Ethereum on Yobit in USD

 201.20 
2.10  1.05%
Market Cap: 9.3 M
  

Exmo

Ethereum on Exmo in USD

 195.45 
(1.83)  0.93%
Market Cap: 79.6 M
 5.75 
2.86% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum USD is expected to generate 0.96 times more return on investment than Exmo Ethereum. However, Yobit Ethereum USD is 1.04 times less risky than Exmo Ethereum. It trades about -0.19 of its potential returns per unit of risk. Exmo Ethereum USD is currently generating about -0.19 per unit of risk. If you would invest  33,400  in Yobit Ethereum USD on July 25, 2019 and sell it today you would lose (13,280)  from holding Yobit Ethereum USD or give up 39.76% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and Exmo Ethereum

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit Ethereum and Exmo Ethereum

Yobit Ethereum USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ethereum USD and Exmo Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo 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 Exmo Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Ethereum USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and Exmo Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
Search macroaxis.com