Pair Correlation Between CCEX BitZeny and CCEX YoCoin

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

CCEX

BitZeny on CCEX in USD
 0.19 
(0.12)  39.58%
Market Cap: 192

CCEX

YoCoin on CCEX in USD
 0.01008 
(0.02661)  72.53%
Market Cap: 67.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BitZeny USD is expected to generate 5.32 times more return on investment than CCEX YoCoin. However, CCEX BitZeny is 5.32 times more volatile than CCEX YoCoin USD. It trades about 0.25 of its potential returns per unit of risk. CCEX YoCoin USD is currently generating about 0.01 per unit of risk. If you would invest  0.44  in CCEX BitZeny USD on November 16, 2017 and sell it today you would earn a total of  18.47  from holding CCEX BitZeny USD or generate 4200.66% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BitZeny and CCEX YoCoin
0.56

Parameters

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 BitZeny USD and CCEX YoCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX YoCoin USD and CCEX BitZeny 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 BitZeny USD are associated (or correlated) with CCEX YoCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX YoCoin USD has no effect on the direction of CCEX BitZeny i.e. CCEX BitZeny and CCEX YoCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX BitZeny USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BitZeny USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

CCEX YoCoin USD

  
0 

Risk-Adjusted Performance

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