Correlation Analysis Between Yobit EthereumScrypt and Coinroom ZCoin

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

Yobit EthereumScrypt USD  vs.  Coinroom ZCoin USD

Yobit

EthereumScrypt on Yobit in USD
 0.009657 
0.000143  1.46%
Market Cap: 8.0
  

Coinroom

ZCoin on Coinroom in USD
 20.95 
0.13  0.62%
Market Cap: 382.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EthereumScrypt USD is expected to under-perform the Coinroom ZCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit EthereumScrypt USD is 1.2 times less risky than Coinroom ZCoin. The crypto trades about -0.26 of its potential returns per unit of risk. The Coinroom ZCoin USD is currently generating about -0.21 of returns per unit of risk over similar time horizon. If you would invest  3,566  in Coinroom ZCoin USD on May 19, 2018 and sell it today you would lose (1,859)  from holding Coinroom ZCoin USD or give up 52.13% of portfolio value over 30 days.

Pair Corralation between Yobit EthereumScrypt and Coinroom ZCoin

0.54
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit EthereumScrypt 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 EthereumScrypt 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 EthereumScrypt 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 EthereumScrypt i.e. Yobit EthereumScrypt and Coinroom ZCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit EthereumScrypt USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit EthereumScrypt 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.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1152.26

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.