Pair Correlation Between Yobit Bitcloud and Cexio Ethereum

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

Yobit

Bitcloud on Yobit in USD
 0.034 
(0.075)  68.81%
Market Cap: 23.0

Cexio

Ethereum on Cexio in USD
 760 
12.1  1.62%
Market Cap: 43.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 20.88 times more return on investment than Cexio Ethereum. However, Yobit Bitcloud is 20.88 times more volatile than Cexio Ethereum USD. It trades about 0.29 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.48 per unit of risk. If you would invest  2.5  in Yobit Bitcloud USD on November 17, 2017 and sell it today you would earn a total of  0.9  from holding Yobit Bitcloud USD or generate 36.05% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitcloud and Cexio Ethereum
-0.23

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 Bitcloud 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 Bitcloud 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 Bitcloud 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 Bitcloud i.e. Yobit Bitcloud and Cexio Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Bitcloud USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

Cexio Ethereum USD

  
31 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 31 (%) of all global equities and portfolios over the last 30 days.