Correlation Analysis Between Yobit Ethereum and Yobit Golem

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

Yobit Ethereum Classic USD  vs.  Yobit Golem Network Token USD

Yobit

Ethereum Classic on Yobit in USD

 11.53 
0.17  1.45%
Market Cap: 272
  

Yobit

Golem Network Token on Yobit in USD

 0.15 
0.0116  8.11%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the Yobit Golem. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 3.05 times less risky than Yobit Golem. The crypto trades about -0.08 of its potential returns per unit of risk. The Yobit Golem Network Token USD is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  15.83  in Yobit Golem Network Token USD on August 23, 2018 and sell it today you would lose (0.37)  from holding Yobit Golem Network Token USD or give up 2.34% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and Yobit Golem

0.74
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ethereum Classic USD and Yobit Golem Network Token USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Golem Network 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 Golem. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Golem Network has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and Yobit Golem 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.
Yobit Golem Network  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

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