Pair Correlation Between Yobit Moneta and Cexio Ethereum

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

Yobit

Moneta on Yobit in USD
 0.0029 
0.0023  383.33%
Market Cap: 2.0

Cexio

Ethereum on Cexio in USD
 1,147 
21  1.86%
Market Cap: 12.9 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Moneta USD is expected to generate 13.37 times more return on investment than Cexio Ethereum. However, Yobit Moneta is 13.37 times more volatile than Cexio Ethereum USD. It trades about 0.3 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.14 per unit of risk. If you would invest  0.09  in Yobit Moneta USD on December 19, 2017 and sell it today you would earn a total of  0.2  from holding Yobit Moneta USD or generate 227.68% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Moneta and Cexio Ethereum
0.78

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Moneta 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 Moneta 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 Moneta 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 Moneta i.e. Yobit Moneta and Cexio Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Moneta USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Moneta USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

Yobit Moneta USD

Pair trading matchups for Yobit Moneta

Cexio Ethereum USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum