Pair Correlation Between Yobit BiosCrypto and Cexio Ethereum

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

Yobit

BiosCrypto on Yobit in USD
 0.0032 
0.001291  67.63%
Market Cap: 0

Cexio

Ethereum on Cexio in USD
 857.93 
1.11  0.13%
Market Cap: 2.4 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BiosCrypto USD is expected to generate 17.03 times more return on investment than Cexio Ethereum. However, Yobit BiosCrypto is 17.03 times more volatile than Cexio Ethereum USD. It trades about 0.3 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about -0.12 per unit of risk. If you would invest  0.11  in Yobit BiosCrypto USD on January 26, 2018 and sell it today you would earn a total of  0.21  from holding Yobit BiosCrypto USD or generate 185.46% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BiosCrypto and Cexio Ethereum
-0.01

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BiosCrypto USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BiosCrypto USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

Yobit BiosCrypto USD

Pair trading matchups for Yobit BiosCrypto

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.

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum