Pair Correlation Between Yobit Ethereum and Gatecoin Ethereum

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

Yobit

Ethereum on Yobit in USD
 611.58 
76.58  14.31%
Market Cap: 508.7 K
(52.42)

Gatecoin

Ethereum on Gatecoin in USD
 664 
164.02  32.81%
Market Cap: 4.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum USD is expected to generate 1.09 times more return on investment than Gatecoin Ethereum. However, Yobit Ethereum is 1.09 times more volatile than Gatecoin Ethereum USD. It trades about 0.36 of its potential returns per unit of risk. Gatecoin Ethereum USD is currently generating about 0.34 per unit of risk. If you would invest  32,340  in Yobit Ethereum USD on November 12, 2017 and sell it today you would earn a total of  30,995  from holding Yobit Ethereum USD or generate 95.84% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Ethereum and Gatecoin Ethereum
0.87

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Ethereum USD

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ethereum USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

Gatecoin Ethereum USD

  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Gatecoin Ethereum USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.