Correlation Analysis Between Yobit SibCoin and Cexio Ethereum

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

Yobit SibCoin USD  vs.  Cexio Ethereum USD

Yobit

SibCoin on Yobit in USD
 0.49 
0.08  19.34%
Market Cap: 1.0
  

Cexio

Ethereum on Cexio in USD
 471.02 
25.31  5.68%
Market Cap: 367.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SibCoin USD is expected to generate 1.87 times more return on investment than Cexio Ethereum. However, Yobit SibCoin is 1.87 times more volatile than Cexio Ethereum USD. It trades about 0.14 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.16 per unit of risk. If you would invest  41.00  in Yobit SibCoin USD on June 16, 2018 and sell it today you would earn a total of  8.00  from holding Yobit SibCoin USD or generate 19.51% return on investment over 30 days.

Pair Corralation between Yobit SibCoin and Cexio Ethereum

0.28
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit SibCoin USD  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SibCoin USD are ranked lower than 9 (%) 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.

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.