Pair Correlation Between Yobit Avatar and Bitstamp Ethereum

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


Avatar Coin on Yobit in USD
0.0097  4.86%
Market Cap: 59.0


Ethereum on Bitstamp in USD
20.98  3.53%
Market Cap: 12 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Avatar Coin USD is expected to generate 18.49 times more return on investment than Bitstamp Ethereum. However, Yobit Avatar is 18.49 times more volatile than Bitstamp Ethereum USD. It trades about 0.22 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.36 per unit of risk. If you would invest  15.00  in Yobit Avatar Coin USD on February 15, 2018 and sell it today you would earn a total of  1.00  from holding Yobit Avatar Coin USD or generate 6.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Avatar and Bitstamp Ethereum


Time Period1 Month [change]
ValuesDaily Returns


Very good diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit Avatar Coin


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Avatar Coin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Bitstamp Ethereum USD


Risk-Adjusted Performance

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