Pair Correlation Between CCEX BitZeny and Yobit Coin2

This module allows you to analyze existing cross correlation between CCEX BitZeny USD and Yobit Coin2 USD. You can compare the effects of market volatilities on CCEX BitZeny and Yobit Coin2 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 Yobit Coin2. See also your portfolio center. Please also check ongoing floating volatility patterns of CCEX BitZeny and Yobit Coin2.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 CCEX BitZeny USD  vs   Yobit Coin.2 USD

CCEX

BitZeny on CCEX in USD
 0.33 
(0.0291)  8.18%
Market Cap: 3 K

Yobit

Coin.2 on Yobit in USD
 0.0059 
(0.002099)  26.24%
Market Cap: 12.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BitZeny USD is expected to generate 2.91 times more return on investment than Yobit Coin2. However, CCEX BitZeny is 2.91 times more volatile than Yobit Coin2 USD. It trades about 0.24 of its potential returns per unit of risk. Yobit Coin2 USD is currently generating about 0.21 per unit of risk. If you would invest  2.57  in CCEX BitZeny USD on November 13, 2017 and sell it today you would earn a total of  30.08  from holding CCEX BitZeny USD or generate 1170.43% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BitZeny and Yobit Coin2
0.9

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy96.67%
ValuesDaily Returns

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding CCEX BitZeny USD and Yobit Coin.2 USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Coin2 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 Yobit Coin2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Coin2 USD has no effect on the direction of CCEX BitZeny i.e. CCEX BitZeny and Yobit Coin2 go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX BitZeny USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BitZeny USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit Coin2 USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Coin2 USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.