Pair Correlation Between CCEX BlakeCoin and Yobit PoSWallet

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

CCEX

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

Yobit

PoSWallet on Yobit in USD
 0.32 
0.0727  29.05%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BlakeCoin USD is expected to generate 4.67 times more return on investment than Yobit PoSWallet. However, CCEX BlakeCoin is 4.67 times more volatile than Yobit PoSWallet USD. It trades about 0.17 of its potential returns per unit of risk. Yobit PoSWallet USD is currently generating about 0.18 per unit of risk. If you would invest  20  in CCEX BlakeCoin USD on November 16, 2017 and sell it today you would lose (1.79)  from holding CCEX BlakeCoin USD or give up 8.95% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BlakeCoin and Yobit PoSWallet
0.34

Parameters

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

Diversification

Weak diversification

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

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PoSWallet USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.