Correlation Analysis Between Yobit Ethereum and Yobit Bitcloud

This module allows you to analyze existing cross correlation between Yobit Ethereum Classic USD and Yobit Bitcloud USD. You can compare the effects of market volatilities on Yobit Ethereum and Yobit Bitcloud 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 Yobit Bitcloud. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Ethereum and Yobit Bitcloud.
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.
Yobit Bitcloud USD  
3

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Yobit Ethereum and Yobit Bitcloud Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Ethereum Classic USD  vs.  Yobit Bitcloud USD

Yobit

Ethereum Classic on Yobit in USD

 4.18 
0.42  11.17%
Market Cap: 2 K
  

Yobit

Bitcloud on Yobit in USD

 0.0098 
(0.0022)  18.33%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the Yobit Bitcloud. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 3.03 times less risky than Yobit Bitcloud. The crypto trades about -0.33 of its potential returns per unit of risk. The Yobit Bitcloud USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  1.32  in Yobit Bitcloud USD on November 17, 2018 and sell it today you would lose (0.34)  from holding Yobit Bitcloud USD or give up 25.59% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and Yobit Bitcloud

0.66
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit Ethereum and Yobit Bitcloud

Yobit Ethereum Classic USD diversification synergy

Poor diversification

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

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.


 
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