Correlation Analysis Between Yobit Bitcloud and Cexio Stellar

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

Yobit Bitcloud USD  vs.  Cexio Stellar USD

Yobit

Bitcloud on Yobit in USD
 0.02 
0.005  20.00%
Market Cap: 19.0
  

Cexio

Stellar on Cexio in USD
 0.21 
0.0172  7.52%
Market Cap: 50.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 1.14 times more return on investment than Cexio Stellar. However, Yobit Bitcloud is 1.14 times more volatile than Cexio Stellar USD. It trades about 0.03 of its potential returns per unit of risk. Cexio Stellar USD is currently generating about -0.17 per unit of risk. If you would invest  2.00  in Yobit Bitcloud USD on May 23, 2018 and sell it today you would lose  0.00  from holding Yobit Bitcloud USD or give up 0.05% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcloud and Cexio Stellar

0.53
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 Bitcloud USD and Cexio Stellar USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio Stellar 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 Stellar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Stellar USD has no effect on the direction of Yobit Bitcloud i.e. Yobit Bitcloud and Cexio Stellar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitcloud USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Cexio Stellar USD  
0 

Risk-Adjusted Performance

Over the last 30 days Cexio Stellar USD has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1155.48

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