Correlation Analysis Between BitTrex Ethereum and Yobit ClubCoin

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

BitTrex Ethereum Classic USD  vs.  Yobit ClubCoin USD

BitTrex

Ethereum Classic on BitTrex in USD

 9.46 
0.01  0.11%
Market Cap: 34.6 K
  

Yobit

ClubCoin on Yobit in USD

 1.46 
0.04  2.82%
Market Cap: 82.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to under-perform the Yobit ClubCoin. But the crypto apears to be less risky and, when comparing its historical volatility, BitTrex Ethereum Classic USD is 6.58 times less risky than Yobit ClubCoin. The crypto trades about -0.11 of its potential returns per unit of risk. The Yobit ClubCoin USD is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest  33.20  in Yobit ClubCoin USD on September 16, 2018 and sell it today you would earn a total of  112.80  from holding Yobit ClubCoin USD or generate 339.76% return on investment over 30 days.

Pair Corralation between BitTrex Ethereum and Yobit ClubCoin

-0.96
Time Period1 Month [change]
DirectionNegative 
StrengthSignificant
Accuracy67.74%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
BitTrex Ethereum Cla  
0 

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.
Yobit ClubCoin USD  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1110.08

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
Search macroaxis.com