Correlation Analysis Between BitTrex Ethereum and Yobit SibCoin

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

BitTrex Ethereum Classic USD  vs.  Yobit SibCoin USD

BitTrex

Ethereum Classic on BitTrex in USD

 9.47 
0.09  0.94%
Market Cap: 11.4 K
  

Yobit

SibCoin on Yobit in USD

 0.19 
0.0187  10.69%
Market Cap: 12.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to generate 0.37 times more return on investment than Yobit SibCoin. However, BitTrex Ethereum Classic USD is 2.7 times less risky than Yobit SibCoin. It trades about -0.16 of its potential returns per unit of risk. Yobit SibCoin USD is currently generating about -0.12 per unit of risk. If you would invest  1,156  in BitTrex Ethereum Classic USD on September 20, 2018 and sell it today you would lose (204.00)  from holding BitTrex Ethereum Classic USD or give up 17.65% of portfolio value over 30 days.

Pair Corralation between BitTrex Ethereum and Yobit SibCoin

0.72
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy74.19%
ValuesDaily Returns

Diversification

Poor diversification

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

Risk-Adjusted Performance

Over the last 30 days Yobit SibCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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