Pair Correlation Between Yobit Global and Bitstamp Ethereum

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


Global Currency Reserve on Yobit in USD
0.004  15.38%
Market Cap: 10.0


Ethereum on Bitstamp in USD
21.96  4.09%
Market Cap: 12 B
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Global Currency Reserve USD is expected to generate 9.4 times more return on investment than Bitstamp Ethereum. However, Yobit Global is 9.4 times more volatile than Bitstamp Ethereum USD. It trades about 0.09 of its potential returns per unit of risk. Bitstamp Ethereum USD is currently generating about -0.4 per unit of risk. If you would invest  9.10  in Yobit Global Currency Reserve USD on February 16, 2018 and sell it today you would lose (6.50)  from holding Yobit Global Currency Reserve USD or give up 71.43% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Global and Bitstamp Ethereum


Time Period1 Month [change]
ValuesDaily Returns


Very weak diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit Global Currency


Risk-Adjusted Performance

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

Bitstamp Ethereum USD


Risk-Adjusted Performance

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