Pair Correlation Between Yobit B3 and Cexio Ethereum

This module allows you to analyze existing cross correlation between Yobit B3 Coin USD and Cexio Ethereum USD. You can compare the effects of market volatilities on Yobit B3 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 B3 with a short position of Cexio Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit B3 and Cexio Ethereum.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Yobit B3 Coin USD  vs   Cexio Ethereum USD

Yobit

B3 Coin on Yobit in USD
 0.0009666 
0.0000566  6.22%
Market Cap: 913

Cexio

Ethereum on Cexio in USD
 945.00 
24.82  2.56%
Market Cap: 1.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 Coin USD is expected to under-perform the Cexio Ethereum. In addition to that, Yobit B3 is 2.67 times more volatile than Cexio Ethereum USD. It trades about -0.06 of its total potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.0 per unit of volatility. If you would invest  103,721  in Cexio Ethereum USD on January 21, 2018 and sell it today you would lose (6,739)  from holding Cexio Ethereum USD or give up 6.5% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and Cexio Ethereum
0.83

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.77%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit B3 Coin 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 B3 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 B3 Coin 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 B3 i.e. Yobit B3 and Cexio Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit B3 Coin

  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit B3 Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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.