Correlation Analysis Between Yobit MaxCoin and Cexio Ethereum

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

Comparative Performance

Yobit MaxCoin USD  
5

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Cexio Ethereum USD  
0

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Yobit MaxCoin and Cexio Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit MaxCoin USD  vs.  Cexio Ethereum USD

Yobit

MaxCoin on Yobit in USD

 0.0135 
0.004418  0.49%
Market Cap: 2.0
  

Cexio

Ethereum on Cexio in USD

 122.86 
(0.81)  0.01%
Market Cap: 19.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to generate 2.67 times more return on investment than Cexio Ethereum. However, Yobit MaxCoin is 2.67 times more volatile than Cexio Ethereum USD. It trades about 0.09 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.02 per unit of risk. If you would invest  1.30  in Yobit MaxCoin USD on December 19, 2018 and sell it today you would earn a total of  0.05  from holding Yobit MaxCoin USD or generate 3.85% return on investment over 30 days.

Pair Corralation between Yobit MaxCoin and Cexio Ethereum

0.73
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit MaxCoin and Cexio Ethereum

Yobit MaxCoin USD diversification synergy

Poor diversification

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

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