Correlation Analysis Between Yobit DebitCoin and BitTrex Ethereum

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

Yobit DebitCoin USD  vs.  BitTrex Ethereum Classic USD

Yobit

DebitCoin on Yobit in USD
 0.004 
0.000077  1.89%
Market Cap: 0
  

BitTrex

Ethereum Classic on BitTrex in USD
 14.96 
0.70  4.47%
Market Cap: 4.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to generate 5.05 times more return on investment than BitTrex Ethereum. However, Yobit DebitCoin is 5.05 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.09 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.21 per unit of risk. If you would invest  0.50  in Yobit DebitCoin USD on April 27, 2018 and sell it today you would lose (0.10)  from holding Yobit DebitCoin USD or give up 19.19% of portfolio value over 30 days.

Pair Corralation between Yobit DebitCoin and BitTrex Ethereum

-0.07
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit DebitCoin USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
BitTrex Ethereum Cla  
0 

Risk-Adjusted Performance

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

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