Pair Correlation Between Cexio Ethereum and Yobit Golem

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

Cexio

Ethereum on Cexio in USD
 1,095 
(11.82)  1.07%
Market Cap: 12.9 B

Yobit

Golem Network Token on Yobit in USD
 0.78 
(0.18)  18.75%
Market Cap: 395
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 1.89 times less return on investment than Yobit Golem. But when comparing it to its historical volatility, Cexio Ethereum USD is 1.4 times less risky than Yobit Golem. It trades about 0.13 of its potential returns per unit of risk. Yobit Golem Network Token USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  62  in Yobit Golem Network Token USD on December 20, 2017 and sell it today you would earn a total of  34  from holding Yobit Golem Network Token USD or generate 54.84% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Cexio Ethereum and Yobit Golem
0.45

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 Cexio Ethereum USD and Yobit Golem Network Token USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Golem Network 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 Golem. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Golem Network has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and Yobit Golem go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Cexio Ethereum USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum

Yobit Golem Network

  
11 

Risk-Adjusted Performance

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

Yobit Golem Network Token USD

Pair trading matchups for Yobit Golem