Correlation Analysis Between Cexio Ethereum and Yobit ClubCoin

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

Cexio Ethereum USD  vs.  Yobit ClubCoin USD

Cexio

Ethereum on Cexio in USD

 204.97 
1.34  0.66%
Market Cap: 1.6 M
  

Yobit

ClubCoin on Yobit in USD

 1.07 
0.09  7.76%
Market Cap: 82.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 104.48 times less return on investment than Yobit ClubCoin. But when comparing it to its historical volatility, Cexio Ethereum USD is 4.71 times less risky than Yobit ClubCoin. It trades about 0.01 of its potential returns per unit of risk. Yobit ClubCoin USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest  33.20  in Yobit ClubCoin USD on September 19, 2018 and sell it today you would earn a total of  73.80  from holding Yobit ClubCoin USD or generate 222.29% return on investment over 30 days.

Pair Corralation between Cexio Ethereum and Yobit ClubCoin

-0.57
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Excellent diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Cexio Ethereum USD  
0 

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 ClubCoin USD  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

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