Pair Correlation Between Yobit DebitCoin and Cexio Ethereum

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

Yobit

DebitCoin on Yobit in USD
 0.013 
0.005  62.5%
Market Cap: 6.0

Cexio

Ethereum on Cexio in USD
 734 
(8.99)  1.21%
Market Cap: 1.8 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to generate 30.01 times more return on investment than Cexio Ethereum. However, Yobit DebitCoin is 30.01 times more volatile than Cexio Ethereum USD. It trades about 0.2 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.45 per unit of risk. If you would invest  0.26  in Yobit DebitCoin USD on November 16, 2017 and sell it today you would earn a total of  1.04  from holding Yobit DebitCoin USD or generate 394.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit DebitCoin and Cexio Ethereum
-0.02

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 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 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 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 DebitCoin i.e. Yobit DebitCoin and Cexio Ethereum 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.

Cexio Ethereum USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.