Pair Correlation Between Yobit MetalCoin and BitTrex Ethereum

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


MetalCoin on Yobit in USD
0.01135  103.18%
Market Cap: 65.0


Ethereum Classic on BitTrex in USD
1.06  5.41%
Market Cap: 23.4 M
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit MetalCoin USD is expected to generate 3.61 times more return on investment than BitTrex Ethereum. However, Yobit MetalCoin is 3.61 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.12 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.19 per unit of risk. If you would invest  2.05  in Yobit MetalCoin USD on February 21, 2018 and sell it today you would earn a total of  0.18  from holding Yobit MetalCoin USD or generate 9.02% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit MetalCoin and BitTrex Ethereum


Time Period1 Month [change]
ValuesDaily Returns


Significant diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit MetalCoin USD


Risk-Adjusted Performance

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

BitTrex Ethereum Cla


Risk-Adjusted Performance

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