Pair Correlation Between Cexio Ethereum and Yobit BeardDollars

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


Ethereum on Cexio in USD
45.46  7.48%
Market Cap: 1.4 B


BeardDollars on Yobit in USD
0.000001  0.0196%
Market Cap: 1.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the Yobit BeardDollars. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Ethereum USD is 12.67 times less risky than Yobit BeardDollars. The crypto trades about -0.41 of its potential returns per unit of risk. The Yobit BeardDollars USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.30  in Yobit BeardDollars USD on February 15, 2018 and sell it today you would earn a total of  0.21  from holding Yobit BeardDollars USD or generate 70.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and Yobit BeardDollars


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

Cexio Ethereum USD


Risk-Adjusted Performance

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

Yobit BeardDollars USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BeardDollars USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.