Correlation Analysis Between CCEX Dogecoin and Yobit Ethereum

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

CCEX Dogecoin USD  vs.  Yobit Ethereum Classic USD

CCEX

Dogecoin on CCEX in USD
 0.00275 
0.0001  3.77%
Market Cap: 327
  

Yobit

Ethereum Classic on Yobit in USD
 16.04 
0.68  4.43%
Market Cap: 440 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Dogecoin USD is expected to under-perform the Yobit Ethereum. In addition to that, CCEX Dogecoin is 1.45 times more volatile than Yobit Ethereum Classic USD. It trades about -0.12 of its total potential returns per unit of risk. Yobit Ethereum Classic USD is currently generating about -0.06 per unit of volatility. If you would invest  1,761  in Yobit Ethereum Classic USD on May 21, 2018 and sell it today you would lose (199.00)  from holding Yobit Ethereum Classic USD or give up 11.3% of portfolio value over 30 days.

Pair Corralation between CCEX Dogecoin and Yobit Ethereum

0.45
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 Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Ethereum Classic 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 Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Ethereum Classic has no effect on the direction of CCEX Dogecoin i.e. CCEX Dogecoin and Yobit Ethereum 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 Ethereum Classic  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.