Correlation Analysis Between Yobit Ethereum and Bitstamp Ethereum

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

Yobit Ethereum Classic USD  vs.  Bitstamp Ethereum USD

Yobit

Ethereum Classic on Yobit in USD

 11.00 
0.23  2.05%
Market Cap: 141.1 K
  

Bitstamp

Ethereum on Bitstamp in USD

 204.80 
15.25  6.93%
Market Cap: 931.1 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to generate 0.45 times more return on investment than Bitstamp Ethereum. However, Yobit Ethereum Classic USD is 2.21 times less risky than Bitstamp Ethereum. It trades about -0.17 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.14 per unit of risk. If you would invest  1,276  in Yobit Ethereum Classic USD on August 26, 2018 and sell it today you would lose (176.00)  from holding Yobit Ethereum Classic USD or give up 13.79% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and Bitstamp Ethereum

0.84
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Ethereum Classic  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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