Pair Correlation Between Yobit BitCrystal and Yobit EthereumScrypt

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

Yobit

BitCrystal on Yobit in USD
 0.0004199 
(0.0000001)  0.0238%
Market Cap: 78.0

Yobit

EthereumScrypt on Yobit in USD
 0.063 
0.03299  109.93%
Market Cap: 4.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal USD is expected to generate 1.21 times more return on investment than Yobit EthereumScrypt. However, Yobit BitCrystal is 1.21 times more volatile than Yobit EthereumScrypt USD. It trades about 0.21 of its potential returns per unit of risk. Yobit EthereumScrypt USD is currently generating about 0.21 per unit of risk. If you would invest  0.1  in Yobit BitCrystal USD on November 14, 2017 and sell it today you would lose (0.06)  from holding Yobit BitCrystal USD or give up 64.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCrystal and Yobit EthereumScrypt
0.56

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

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

Yobit EthereumScrypt USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EthereumScrypt USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.