Correlation Analysis Between Yobit EDRCoin and Bitstamp Bitcoin

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

Comparative Performance

Yobit EDRCoin USD  
20

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EDRCoin USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.
Bitstamp Bitcoin USD  
0

Risk-Adjusted Performance

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

Yobit EDRCoin and Bitstamp Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit EDRCoin USD  vs.  Bitstamp Bitcoin USD

Yobit

EDRCoin on Yobit in USD

 0.70 
0.01  1.45%
Market Cap: 13.0
  

Bitstamp

Bitcoin on Bitstamp in USD

 3,596 
9.97  0.28%
Market Cap: 35.1 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EDRCoin USD is expected to generate 3.82 times more return on investment than Bitstamp Bitcoin. However, Yobit EDRCoin is 3.82 times more volatile than Bitstamp Bitcoin USD. It trades about 0.3 of its potential returns per unit of risk. Bitstamp Bitcoin USD is currently generating about -0.01 per unit of risk. If you would invest  23.10  in Yobit EDRCoin USD on January 18, 2019 and sell it today you would earn a total of  46.90  from holding Yobit EDRCoin USD or generate 203.03% return on investment over 30 days.

Pair Corralation between Yobit EDRCoin and Bitstamp Bitcoin

-0.54
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy97.5%
ValuesDaily Returns

Diversification Opportunities for Yobit EDRCoin and Bitstamp Bitcoin

Yobit EDRCoin USD diversification synergy

Excellent diversification

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

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Yobit EDRCoin USD

Pair trading matchups for Yobit EDRCoin

See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.


 
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