Correlation Analysis Between Yobit eMark and Coinbase Bitcoin

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

Yobit eMark USD  vs.  Coinbase Bitcoin USD


eMark on Yobit in USD
0.00299  17.93%
Market Cap: 28.0


Bitcoin on Coinbase in USD
309.20  4.87%
Market Cap: 139.3 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit eMark USD is expected to generate 9.78 times more return on investment than Coinbase Bitcoin. However, Yobit eMark is 9.78 times more volatile than Coinbase Bitcoin USD. It trades about 0.09 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.01 per unit of risk. If you would invest  2.00  in Yobit eMark USD on June 16, 2018 and sell it today you would lose (0.63)  from holding Yobit eMark USD or give up 31.55% of portfolio value over 30 days.

Pair Corralation between Yobit eMark and Coinbase Bitcoin

Time Period1 Month [change]
ValuesDaily Returns


Good diversification

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

Comparative Volatility

 Predicted Return Density 
Yobit eMark USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit eMark USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Coinbase Bitcoin USD  

Risk-Adjusted Performance

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

Coinbase Bitcoin USD

Pair trading matchups for Coinbase Bitcoin

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