Pair Correlation Between CCEX AlpaCoin and Yobit Golem

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


AlpaCoin on CCEX in USD
0.00  0.00%
Market Cap: 11.0


Golem Network Token on Yobit in USD
0.000005  0.0019%
Market Cap: 45.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, CCEX AlpaCoin USD is expected to generate 1.8 times more return on investment than Yobit Golem. However, CCEX AlpaCoin is 1.8 times more volatile than Yobit Golem Network Token USD. It trades about 0.01 of its potential returns per unit of risk. Yobit Golem Network Token USD is currently generating about -0.02 per unit of risk. If you would invest  0.56  in CCEX AlpaCoin USD on February 22, 2018 and sell it today you would lose (0.24)  from holding CCEX AlpaCoin USD or give up 42.9% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between CCEX AlpaCoin and Yobit Golem


Time Period1 Month [change]
ValuesDaily Returns


Significant diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit Golem Network


Risk-Adjusted Performance

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