Pair Correlation Between CCEX CryptoCarbon and Yobit Decred

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

CCEX

CryptoCarbon on CCEX in USD
 0.37 
(0.0436)  10.65%
Market Cap: 17.0

Yobit

Decred on Yobit in USD
 54.98 
(3.02)  5.21%
Market Cap: 9.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX CryptoCarbon USD is expected to generate 10.49 times more return on investment than Yobit Decred. However, CCEX CryptoCarbon is 10.49 times more volatile than Yobit Decred USD. It trades about 0.19 of its potential returns per unit of risk. Yobit Decred USD is currently generating about 0.33 per unit of risk. If you would invest  15  in CCEX CryptoCarbon USD on November 12, 2017 and sell it today you would earn a total of  25.92  from holding CCEX CryptoCarbon USD or generate 172.8% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX CryptoCarbon and Yobit Decred
0.48

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX CryptoCarbon USD

  
12 

Risk-Adjusted Performance

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

Yobit Decred USD

  
21 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Decred USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.