Correlation Analysis Between Yobit Ethereum and Kraken Ethereum

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

Yobit Ethereum USD  vs.  Kraken Ethereum USD

Yobit

Ethereum on Yobit in USD
 726.21 
3.46  0.47%
Market Cap: 157 M
  

Kraken

Ethereum on Kraken in USD
 707.15 
4.48  0.63%
Market Cap: 31.3 B
 19.06 
2.62% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum USD is expected to generate 0.91 times more return on investment than Kraken Ethereum. However, Yobit Ethereum USD is 1.1 times less risky than Kraken Ethereum. It trades about 0.13 of its potential returns per unit of risk. Kraken Ethereum USD is currently generating about 0.1 per unit of risk. If you would invest  63,500  in Yobit Ethereum USD on April 21, 2018 and sell it today you would earn a total of  9,720  from holding Yobit Ethereum USD or generate 15.31% return on investment over 30 days.

Pair Corralation between Yobit Ethereum and Kraken Ethereum

0.79
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Ethereum USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ethereum USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Kraken Ethereum USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Ethereum USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

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My Current Equities and Potential Positions
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