Correlation Analysis Between Yobit Ethereum and CCEX Dogecoin

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

Yobit Ethereum Classic USD  vs.  CCEX Dogecoin USD


Ethereum Classic on Yobit in USD
0.14  0.82%
Market Cap: 440 K


Dogecoin on CCEX in USD
0.00005  1.82%
Market Cap: 327
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to generate 0.67 times more return on investment than CCEX Dogecoin. However, Yobit Ethereum Classic USD is 1.49 times less risky than CCEX Dogecoin. It trades about 0.09 of its potential returns per unit of risk. CCEX Dogecoin USD is currently generating about -0.1 per unit of risk. If you would invest  1,573  in Yobit Ethereum Classic USD on May 22, 2018 and sell it today you would earn a total of  147.00  from holding Yobit Ethereum Classic USD or generate 9.35% return on investment over 30 days.

Pair Corralation between Yobit Ethereum and CCEX Dogecoin

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Weak diversification

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

Comparative Volatility

 Predicted Return Density 
Yobit Ethereum Classic  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.