Pair Correlation Between Cexio Ethereum and Yobit Reddcoin |
This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Yobit Reddcoin USD. You can compare the effects of market volatilities on Cexio Ethereum and Yobit Reddcoin 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 Reddcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Cexio Ethereum and Yobit Reddcoin.
Time Horizon | 30 Days Login to change |
Symbols | vs |
Cexio Ethereum USD vs. Yobit Reddcoin USD
CexioEthereum on Cexio in USD 616.20
| YobitReddcoin on Yobit in USD 0.007111
|
Pair Volatility
Assuming 30 trading days horizon, Cexio Ethereum USD is expected to generate 0.63 times more return on investment than Yobit Reddcoin. However, Cexio Ethereum USD is 1.59 times less risky than Yobit Reddcoin. It trades about -0.06 of its potential returns per unit of risk. Yobit Reddcoin USD is currently generating about -0.04 per unit of risk. If you would invest 86,200 in Cexio Ethereum USD on March 26, 2018 and sell it today you would lose (21,580) from holding Cexio Ethereum USD or give up 25.03% of portfolio value over 30 days.
Pair Corralation between Cexio Ethereum and Yobit Reddcoin
0.82
Time Period | 2 Months [change] |
Direction | Positive |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Diversification
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Cexio Ethereum USD and Yobit Reddcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Reddcoin 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 Reddcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Reddcoin USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and Yobit Reddcoin go up and down completely randomly.
Comparative Volatility
Cexio Ethereum USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Ethereum USD
Pair trading matchups for Cexio Ethereum
Yobit Reddcoin USD |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days Yobit Reddcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Reddcoin USD
Pair trading matchups for Yobit Reddcoin
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