Correlation Analysis Between Yobit Ethereum and OKCoin Ethereum

This module allows you to analyze existing cross correlation between Yobit Ethereum USD and OKCoin Ethereum USD. You can compare the effects of market volatilities on Yobit Ethereum and OKCoin 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 OKCoin Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Ethereum and OKCoin Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
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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.
OKCoin Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days OKCoin Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Yobit Ethereum and OKCoin Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Ethereum USD  vs.  OKCoin Ethereum USD

Yobit

Ethereum on Yobit in USD

 204.30 
9.33  4.79%
Market Cap: 9.3 M
  

OKCoin

Ethereum on OKCoin in USD

 185.43 
(13.96)  7.00%
Market Cap: 256.6 M
 18.87 
9.24% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum USD is expected to under-perform the OKCoin Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum USD is 1.19 times less risky than OKCoin Ethereum. The crypto trades about -0.18 of its potential returns per unit of risk. The OKCoin Ethereum USD is currently generating about -0.12 of returns per unit of risk over similar time horizon. If you would invest  30,495  in OKCoin Ethereum USD on July 21, 2019 and sell it today you would lose (10,556)  from holding OKCoin Ethereum USD or give up 34.62% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and OKCoin Ethereum

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit Ethereum and OKCoin Ethereum

Yobit Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ethereum USD and OKCoin Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin 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 OKCoin Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Ethereum USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and OKCoin Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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