Pair Correlation Between CCEX BlakeCoin and Yobit CoolDarkCoin

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

CCEX

BlakeCoin on CCEX in USD
 0.22 
0.0209  10.76%
Market Cap: 0

Yobit

CoolDarkCoin on Yobit in USD
 0.0398 
0.01034  35.1%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BlakeCoin is expected to generate 6.2127921348666E11 times less return on investment than Yobit CoolDarkCoin. But when comparing it to its historical volatility, CCEX BlakeCoin USD is 6.077359015278E11 times less risky than Yobit CoolDarkCoin. It trades about 0.18 of its potential returns per unit of risk. Yobit CoolDarkCoin 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 CoolDarkCoin USD on November 13, 2017 and sell it today you would earn a total of  3.98  from holding Yobit CoolDarkCoin USD or generate 9.223372036854776E16% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BlakeCoin and Yobit CoolDarkCoin
0.23

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX BlakeCoin USD

  
11 

Risk-Adjusted Performance

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

CCEX BlakeCoin USD

Pair trading matchups for CCEX BlakeCoin

Yobit CoolDarkCoin USD

  
11 

Risk-Adjusted Performance

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

Yobit CoolDarkCoin USD

Pair trading matchups for Yobit CoolDarkCoin