Correlation Analysis Between Yobit EDRCoin and Cexio Bitcoin

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

Comparative Performance

Yobit EDRCoin USD  
0

Risk-Adjusted Performance

Over the last 30 days Yobit EDRCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Bitcoin USD  
0

Risk-Adjusted Performance

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

Yobit EDRCoin and Cexio Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit EDRCoin USD  vs.  Cexio Bitcoin USD

Yobit

EDRCoin on Yobit in USD

 0.70 
(0.019)  2.64%
Market Cap: 13.0
  

Cexio

Bitcoin on Cexio in USD

 3,705 
(254.50)  6.43%
Market Cap: 374.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EDRCoin USD is expected to generate 4.21 times more return on investment than Cexio Bitcoin. However, Yobit EDRCoin is 4.21 times more volatile than Cexio Bitcoin USD. It trades about 0.39 of its potential returns per unit of risk. Cexio Bitcoin USD is currently generating about 0.01 per unit of risk. If you would invest  18.10  in Yobit EDRCoin USD on January 20, 2019 and sell it today you would earn a total of  51.90  from holding Yobit EDRCoin USD or generate 286.74% return on investment over 30 days.

Pair Corralation between Yobit EDRCoin and Cexio Bitcoin

-0.58
Time Period2 Months [change]
DirectionNegative 
StrengthVery Weak
Accuracy92.68%
ValuesDaily Returns

Diversification Opportunities for Yobit EDRCoin and Cexio 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 Cexio Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cexio 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 Cexio Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cexio Bitcoin USD has no effect on the direction of Yobit EDRCoin i.e. Yobit EDRCoin and Cexio 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 Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.


 
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