Pair Correlation Between Yobit BitCrystal and CCEX BlakeCoin

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

Yobit

BitCrystal on Yobit in USD
 0.00037 
(0.00005)  11.9%
Market Cap: 169

CCEX

BlakeCoin on CCEX in USD
 0.18 
(0.11)  37.68%
Market Cap: 32.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal is expected to generate 1.66 times less return on investment than CCEX BlakeCoin. But when comparing it to its historical volatility, Yobit BitCrystal USD is 1.97 times less risky than CCEX BlakeCoin. It trades about 0.21 of its potential returns per unit of risk. CCEX BlakeCoin USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  20  in CCEX BlakeCoin USD on November 16, 2017 and sell it today you would lose (1.79)  from holding CCEX BlakeCoin USD or give up 8.95% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCrystal and CCEX BlakeCoin
0.33

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit BitCrystal USD and CCEX BlakeCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX BlakeCoin USD 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 CCEX BlakeCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX BlakeCoin USD has no effect on the direction of Yobit BitCrystal i.e. Yobit BitCrystal and CCEX BlakeCoin 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.

CCEX BlakeCoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BlakeCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.