Correlation Analysis Between Yobit Ethereum and Poloniex Ethereum

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

Yobit Ethereum USD  vs.  Poloniex Ethereum USD

Yobit

Ethereum on Yobit in USD
 466.53 
15.01  3.32%
Market Cap: 33.7 M
  

Poloniex

Ethereum on Poloniex in USD
 467.48 
22.63  5.09%
Market Cap: 733.4 M
(0.95)
0.20% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum USD is expected to under-perform the Poloniex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum USD is 1.13 times less risky than Poloniex Ethereum. The crypto trades about -0.01 of its potential returns per unit of risk. The Poloniex Ethereum USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  45,239  in Poloniex Ethereum USD on June 21, 2018 and sell it today you would earn a total of  1,391  from holding Poloniex Ethereum USD or generate 3.07% return on investment over 30 days.

Pair Corralation between Yobit Ethereum and Poloniex Ethereum

0.23
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Poloniex Ethereum USD  
3 

Risk-Adjusted Performance

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

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