Pair Correlation Between CCEX BlakeCoin and Yobit InsaneCoin

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

CCEX

BlakeCoin on CCEX in USD
 0.18 
(0.11)  37.68%
Market Cap: 32.0

Yobit

InsaneCoin on Yobit in USD
 0.14 
(0.0085)  5.67%
Market Cap: 319
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BlakeCoin is expected to generate 2.02 times less return on investment than Yobit InsaneCoin. But when comparing it to its historical volatility, CCEX BlakeCoin USD is 1.25 times less risky than Yobit InsaneCoin. It trades about 0.17 of its potential returns per unit of risk. Yobit InsaneCoin USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest  1.2  in Yobit InsaneCoin USD on November 16, 2017 and sell it today you would earn a total of  12.95  from holding Yobit InsaneCoin USD or generate 1079.17% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BlakeCoin and Yobit InsaneCoin
-0.07

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 CCEX BlakeCoin USD and Yobit InsaneCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit InsaneCoin 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 InsaneCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit InsaneCoin USD has no effect on the direction of CCEX BlakeCoin i.e. CCEX BlakeCoin and Yobit InsaneCoin 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.

Yobit InsaneCoin USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit InsaneCoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.