Correlation Analysis Between Yobit Global and CCEX AlpaCoin

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

Comparative Performance

Yobit Global Currency  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Global Currency Reserve USD has generated negative risk-adjusted returns adding no value to investors with long positions.
CCEX AlpaCoin USD  
4

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX AlpaCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

Yobit Global and CCEX AlpaCoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Global Currency Reserve   vs.  CCEX AlpaCoin USD

Yobit

Global Currency Reserve on Yobit in USD

 0.0275 
0.00  0.00%
Market Cap: 0
  

CCEX

AlpaCoin on CCEX in USD

 0.001101 
(0.013899)  92.66%
Market Cap: 83.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Global Currency Reserve USD is expected to under-perform the CCEX AlpaCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Global Currency Reserve USD is 2.16 times less risky than CCEX AlpaCoin. The crypto trades about -0.23 of its potential returns per unit of risk. The CCEX AlpaCoin USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest  0.58  in CCEX AlpaCoin USD on November 15, 2018 and sell it today you would lose (0.47)  from holding CCEX AlpaCoin USD or give up 80.86% of portfolio value over 30 days.

Pair Corralation between Yobit Global and CCEX AlpaCoin

-0.04
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy93.18%
ValuesDaily Returns

Diversification Opportunities for Yobit Global and CCEX AlpaCoin

Yobit Global Currency Reserve  diversification synergy

Good diversification

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

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