Pair Correlation Between Cexio Ethereum and Yobit FistBump

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

Cexio

Ethereum on Cexio in USD
 1,039 
131.51  14.49%
Market Cap: 12.9 B

Yobit

FistBump on Yobit in USD
 0.0005001 
(0.0004999)  49.99%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 32.77 times less return on investment than Yobit FistBump. But when comparing it to its historical volatility, Cexio Ethereum USD is 30.51 times less risky than Yobit FistBump. It trades about 0.19 of its potential returns per unit of risk. Yobit FistBump USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest  0.48  in Yobit FistBump USD on December 17, 2017 and sell it today you would lose (0.43)  from holding Yobit FistBump USD or give up 89.58% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and Yobit FistBump
-0.41

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Ethereum USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit FistBump USD

  
13 

Risk-Adjusted Performance

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