Correlation Analysis Between Yobit Ethereum and Coinroom ZCoin

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

Comparative Performance

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.
Coinroom ZCoin USD  
0

Risk-Adjusted Performance

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

Yobit Ethereum and Coinroom ZCoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Ethereum Classic USD  vs.  Coinroom ZCoin USD

Yobit

Ethereum Classic on Yobit in USD

 4.14 
0.12  2.99%
Market Cap: 2.3 K
  

Coinroom

ZCoin on Coinroom in USD

 4.20 
0.00  0.00%
Market Cap: 18.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the Coinroom ZCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 2.09 times less risky than Coinroom ZCoin. The crypto trades about -0.37 of its potential returns per unit of risk. The Coinroom ZCoin USD is currently generating about -0.11 of returns per unit of risk over similar time horizon. If you would invest  1,019  in Coinroom ZCoin USD on November 14, 2018 and sell it today you would lose (538.00)  from holding Coinroom ZCoin USD or give up 52.8% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and Coinroom ZCoin

0.91
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for Yobit Ethereum and Coinroom ZCoin

Yobit Ethereum Classic USD diversification synergy

Almost no diversification

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

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