Pair Correlation Between CCEX Anarchists and Yobit Pulse

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

CCEX

Anarchists Prime on CCEX in USD
 0.03 
(0.02)  40%
Market Cap: 3.8 K

Yobit

Pulse on Yobit in USD
 0.0197 
0.0002  1.03%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Anarchists is expected to generate 1.89 times less return on investment than Yobit Pulse. But when comparing it to its historical volatility, CCEX Anarchists Prime USD is 2.32 times less risky than Yobit Pulse. It trades about 0.29 of its potential returns per unit of risk. Yobit Pulse USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  0.7  in Yobit Pulse USD on November 15, 2017 and sell it today you would earn a total of  1.27  from holding Yobit Pulse USD or generate 181.47% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX Anarchists and Yobit Pulse
0.61

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX Anarchists Prime

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Anarchists Prime USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

Yobit Pulse USD

  
15 

Risk-Adjusted Performance

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