Pair Correlation Between Yobit BitCrystal and BitTrex Ethereum

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

Yobit

BitCrystal on Yobit in USD
 0.0004071 
0.0000471  13.08%
Market Cap: 78.0

BitTrex

Ethereum Classic on BitTrex in USD
 26.06 
1.23  4.95%
Market Cap: 36.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal USD is expected to generate 8.25 times more return on investment than BitTrex Ethereum. However, Yobit BitCrystal is 8.25 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.2 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.2 per unit of risk. If you would invest  0.1  in Yobit BitCrystal USD on November 10, 2017 and sell it today you would lose (0.06)  from holding Yobit BitCrystal USD or give up 59.29% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCrystal and BitTrex Ethereum
-0.3

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitCrystal USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCrystal USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

BitTrex Ethereum Cla

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Ethereum Classic USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.