Pair Correlation Between Yobit DebitCoin and CCEX BitZeny

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

Yobit

DebitCoin on Yobit in USD
 0.013 
0.0021  19.27%
Market Cap: 6.0

CCEX

BitZeny on CCEX in USD
 0.19 
(0.12)  39.58%
Market Cap: 192
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin is expected to generate 1.29 times less return on investment than CCEX BitZeny. But when comparing it to its historical volatility, Yobit DebitCoin USD is 1.01 times less risky than CCEX BitZeny. It trades about 0.2 of its potential returns per unit of risk. CCEX BitZeny USD is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest  0.38  in CCEX BitZeny USD on November 18, 2017 and sell it today you would earn a total of  18.53  from holding CCEX BitZeny USD or generate 4863.25% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit DebitCoin and CCEX BitZeny
-0.11

Parameters

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit DebitCoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

CCEX BitZeny USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BitZeny USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.