Correlation Analysis Between CCEX Dogecoin and Yobit Bitcloud

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

CCEX Dogecoin USD  vs.  Yobit Bitcloud USD

CCEX

Dogecoin on CCEX in USD
 0.0027 
0.00005  1.82%
Market Cap: 327
  

Yobit

Bitcloud on Yobit in USD
 0.02 
0.005  20.00%
Market Cap: 19.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Dogecoin USD is expected to under-perform the Yobit Bitcloud. In addition to that, CCEX Dogecoin is 1.16 times more volatile than Yobit Bitcloud USD. It trades about -0.1 of its total potential returns per unit of risk. Yobit Bitcloud USD is currently generating about 0.03 per unit of volatility. If you would invest  2.00  in Yobit Bitcloud USD on May 22, 2018 and sell it today you would lose  0.00  from holding Yobit Bitcloud USD or give up 0.05% of portfolio value over 30 days.

Pair Corralation between CCEX Dogecoin and Yobit Bitcloud

0.4
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
CCEX Dogecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days CCEX Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Bitcloud USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
Specialization
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1160.11

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.