Pair Correlation Between BitTrex Ethereum and Yobit Rimbit

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

BitTrex

Ethereum Classic on BitTrex in USD
 33.1 
3.07  10.22%
Market Cap: 88.6 M

Yobit

Rimbit on Yobit in USD
 0.0144 
0.00015  1.05%
Market Cap: 227
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum is expected to generate 595.5 times less return on investment than Yobit Rimbit. But when comparing it to its historical volatility, BitTrex Ethereum Classic USD is 21.35 times less risky than Yobit Rimbit. It trades about 0.01 of its potential returns per unit of risk. Yobit Rimbit USD is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest  0.03  in Yobit Rimbit USD on December 20, 2017 and sell it today you would earn a total of  1.4  from holding Yobit Rimbit USD or generate 5600.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between BitTrex Ethereum and Yobit Rimbit
0.42

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
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 Rimbit USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Rimbit 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 Rimbit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Rimbit USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and Yobit Rimbit 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.

BitTrex Ethereum Classic USD

Pair trading matchups for BitTrex Ethereum

Yobit Rimbit USD

  
23 

Risk-Adjusted Performance

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

Yobit Rimbit USD

Pair trading matchups for Yobit Rimbit