Pair Correlation Between Yobit BitBean and BitTrex Ethereum

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

Yobit

BitBean on Yobit in USD
 0.035 
0.009  34.62%
Market Cap: 332

BitTrex

Ethereum Classic on BitTrex in USD
 36.55 
2.05  5.31%
Market Cap: 8.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 4.19 times more return on investment than BitTrex Ethereum. However, Yobit BitBean is 4.19 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.25 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.12 per unit of risk. If you would invest  1.62  in Yobit BitBean USD on January 25, 2018 and sell it today you would earn a total of  1.88  from holding Yobit BitBean USD or generate 116.05% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitBean and BitTrex Ethereum
0.52

Parameters

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 BitBean 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 BitBean 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 BitBean 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 BitBean i.e. Yobit BitBean and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitBean USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Yobit BitBean USD

Pair trading matchups for Yobit BitBean

BitTrex Ethereum Cla

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

BitTrex Ethereum Classic USD

Pair trading matchups for BitTrex Ethereum