Correlation Analysis Between Yobit AudioCoin and Cexio Ethereum

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

Yobit AudioCoin USD  vs.  Cexio Ethereum USD

Yobit

AudioCoin on Yobit in USD

 0.0015 
0.0006  66.67%
Market Cap: 6.0
  

Cexio

Ethereum on Cexio in USD

 205.90 
0.21  0.10%
Market Cap: 1.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit AudioCoin USD is expected to generate 7.2 times more return on investment than Cexio Ethereum. However, Yobit AudioCoin is 7.2 times more volatile than Cexio Ethereum USD. It trades about 0.2 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.08 per unit of risk. If you would invest  0.09  in Yobit AudioCoin USD on September 22, 2018 and sell it today you would earn a total of  0.06  from holding Yobit AudioCoin USD or generate 66.67% return on investment over 30 days.

Pair Corralation between Yobit AudioCoin and Cexio Ethereum

0.6
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit AudioCoin USD  
13 

Risk-Adjusted Performance

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

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