Correlation Analysis Between Yobit BiosCrypto and BitTrex Ethereum

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

Yobit BiosCrypto USD  vs.  BitTrex Ethereum Classic USD

Yobit

BiosCrypto on Yobit in USD
 0.00117 
0.000725  38.26%
Market Cap: 0
  

BitTrex

Ethereum Classic on BitTrex in USD
 15.13 
0.53  3.38%
Market Cap: 4.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BiosCrypto USD is expected to generate 11.55 times more return on investment than BitTrex Ethereum. However, Yobit BiosCrypto is 11.55 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.16 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.15 per unit of risk. If you would invest  0.10  in Yobit BiosCrypto USD on April 26, 2018 and sell it today you would earn a total of  0.02  from holding Yobit BiosCrypto USD or generate 14.71% return on investment over 30 days.

Pair Corralation between Yobit BiosCrypto and BitTrex Ethereum

0.54
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit BiosCrypto USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BiosCrypto USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
BitTrex Ethereum Cla  
0 

Risk-Adjusted Performance

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

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