Pair Correlation Between BitTrex Ethereum and Yobit SkullBuzz

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

BitTrex

Ethereum Classic on BitTrex in USD
 32.02 
1.99  6.63%
Market Cap: 88.6 M

Yobit

SkullBuzz on Yobit in USD
 0.11 
0.0088  8.7%
Market Cap: 100.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, BitTrex Ethereum is expected to generate 27.69 times less return on investment than Yobit SkullBuzz. But when comparing it to its historical volatility, BitTrex Ethereum Classic USD is 3.85 times less risky than Yobit SkullBuzz. It trades about 0.01 of its potential returns per unit of risk. Yobit SkullBuzz USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  70  in Yobit SkullBuzz USD on December 20, 2017 and sell it today you would lose (49)  from holding Yobit SkullBuzz USD or give up 70.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between BitTrex Ethereum and Yobit SkullBuzz
-0.08

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Good diversification

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

  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SkullBuzz USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

Yobit SkullBuzz USD

Pair trading matchups for Yobit SkullBuzz