Correlation Analysis Between Yobit EthereumScrypt and Yobit Iconic

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

Yobit EthereumScrypt USD  vs.  Yobit Iconic USD


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


Iconic on Yobit in USD
0.02389  51.93%
Market Cap: 4.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit EthereumScrypt USD is expected to under-perform the Yobit Iconic. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit EthereumScrypt USD is 3.25 times less risky than Yobit Iconic. The crypto trades about -0.25 of its potential returns per unit of risk. The Yobit Iconic USD is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  7.56  in Yobit Iconic USD on May 19, 2018 and sell it today you would lose (0.57)  from holding Yobit Iconic USD or give up 7.52% of portfolio value over 30 days.

Pair Corralation between Yobit EthereumScrypt and Yobit Iconic

Time Period1 Month [change]
ValuesDaily Returns


Average diversification

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

Comparative Volatility

 Predicted Return Density 
Yobit EthereumScrypt USD  

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.
Yobit Iconic USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Iconic USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

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See also your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.