Pair Correlation Between CCEX Asiadigicoin and Yobit 2BACCO

This module allows you to analyze existing cross correlation between CCEX Asiadigicoin USD and Yobit 2BACCO Coin USD. You can compare the effects of market volatilities on CCEX Asiadigicoin and Yobit 2BACCO 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 Asiadigicoin with a short position of Yobit 2BACCO. See also your portfolio center. Please also check ongoing floating volatility patterns of CCEX Asiadigicoin and Yobit 2BACCO.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 CCEX Asiadigicoin USD  vs   Yobit 2BACCO Coin USD

CCEX

Asiadigicoin on CCEX in USD
 0.01071 
0.008688  429.67%
Market Cap: 4.0

Yobit

2BACCO Coin on Yobit in USD
 0.000113 
(0.000326)  74.26%
Market Cap: 29.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Asiadigicoin is expected to generate 1.70568717055366E12 times less return on investment than Yobit 2BACCO. But when comparing it to its historical volatility, CCEX Asiadigicoin USD is 1.93774267060236E12 times less risky than Yobit 2BACCO. It trades about 0.2 of its potential returns per unit of risk. Yobit 2BACCO Coin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.00  in Yobit 2BACCO Coin USD on November 12, 2017 and sell it today you would earn a total of  0.04  from holding Yobit 2BACCO Coin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX Asiadigicoin and Yobit 2BACCO
0.11

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy83.87%
ValuesDaily Returns

Diversification

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding CCEX Asiadigicoin USD and Yobit 2BACCO Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit 2BACCO Coin and CCEX Asiadigicoin 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 Asiadigicoin USD are associated (or correlated) with Yobit 2BACCO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit 2BACCO Coin has no effect on the direction of CCEX Asiadigicoin i.e. CCEX Asiadigicoin and Yobit 2BACCO go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX Asiadigicoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Asiadigicoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

CCEX Asiadigicoin USD

Pair trading matchups for CCEX Asiadigicoin

Yobit 2BACCO Coin

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit 2BACCO Coin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.