Correlation Analysis Between CCEX Dogecoin and Yobit EthereumScrypt

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

CCEX Dogecoin USD  vs.  Yobit EthereumScrypt USD

CCEX

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

Yobit

EthereumScrypt on Yobit in USD
 0.009657 
0.000143  1.46%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Dogecoin USD is expected to generate 1.88 times more return on investment than Yobit EthereumScrypt. However, CCEX Dogecoin is 1.88 times more volatile than Yobit EthereumScrypt USD. It trades about -0.1 of its potential returns per unit of risk. Yobit EthereumScrypt USD is currently generating about -0.19 per unit of risk. If you would invest  0.36  in CCEX Dogecoin USD on May 22, 2018 and sell it today you would lose (0.09)  from holding CCEX Dogecoin USD or give up 23.61% of portfolio value over 30 days.

Pair Corralation between CCEX Dogecoin and Yobit EthereumScrypt

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

Risk-Adjusted Performance

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

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