Pair Correlation Between BitTrex Ethereum and Yobit GeoCoin

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

BitTrex

Ethereum Classic on BitTrex in USD
 31.64 
(9.36)  22.83%
Market Cap: 88.6 M

Yobit

GeoCoin on Yobit in USD
 7 
(1.2)  14.63%
Market Cap: 771
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum is expected to generate 84.1 times less return on investment than Yobit GeoCoin. But when comparing it to its historical volatility, BitTrex Ethereum Classic USD is 24.98 times less risky than Yobit GeoCoin. It trades about 0.07 of its potential returns per unit of risk. Yobit GeoCoin USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  110  in Yobit GeoCoin USD on December 17, 2017 and sell it today you would earn a total of  660  from holding Yobit GeoCoin USD or generate 600.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between BitTrex Ethereum and Yobit GeoCoin
0.43

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy90.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

BitTrex Ethereum Cla

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

Yobit GeoCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.