Correlation Analysis Between Cexio Ethereum and Yobit MaxCoin

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

Cexio Ethereum USD  vs.  Yobit MaxCoin USD

Cexio

Ethereum on Cexio in USD

 88.36 
(0.02)  0.0226%
Market Cap: 52.3 M
  

Yobit

MaxCoin on Yobit in USD

 0.00759 
0.000384  5.33%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to generate 0.35 times more return on investment than Yobit MaxCoin. However, Cexio Ethereum USD is 2.83 times less risky than Yobit MaxCoin. It trades about -0.37 of its potential returns per unit of risk. Yobit MaxCoin USD is currently generating about -0.17 per unit of risk. If you would invest  20,848  in Cexio Ethereum USD on November 13, 2018 and sell it today you would lose (12,012)  from holding Cexio Ethereum USD or give up 57.62% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and Yobit MaxCoin

0.88
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Cexio Ethereum USD diversification synergy

Very poor diversification

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

Risk-Adjusted Performance

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

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