Correlation Analysis Between Yobit CryptoSpots and CCEX Dogecoin

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

Yobit CryptoSpots USD  vs.  CCEX Dogecoin USD

Yobit

CryptoSpots on Yobit in USD

 0.009 
0.001469  19.51%
Market Cap: 1.0
  

CCEX

Dogecoin on CCEX in USD

 0.0023 
0.0002  9.52%
Market Cap: 7.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CryptoSpots USD is expected to generate 6.05 times more return on investment than CCEX Dogecoin. However, Yobit CryptoSpots is 6.05 times more volatile than CCEX Dogecoin USD. It trades about 0.12 of its potential returns per unit of risk. CCEX Dogecoin USD is currently generating about -0.19 per unit of risk. If you would invest  0.60  in Yobit CryptoSpots USD on November 11, 2018 and sell it today you would earn a total of  0.30  from holding Yobit CryptoSpots USD or generate 50.0% return on investment over 30 days.

Pair Corralation between Yobit CryptoSpots and CCEX Dogecoin

0.28
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Yobit CryptoSpots USD diversification synergy

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit CryptoSpots USD  
7

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CryptoSpots USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
CCEX Dogecoin USD  
0

Risk-Adjusted Performance

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

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Alphabet
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ExchangeNASDAQ
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