Pair Correlation Between Yobit GeoCoin and Cexio Ethereum

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

Yobit

GeoCoin on Yobit in USD
 6.7 
(0.3)  4.29%
Market Cap: 771

Cexio

Ethereum on Cexio in USD
 922.51 
15.02  1.66%
Market Cap: 12.9 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 21.61 times more return on investment than Cexio Ethereum. However, Yobit GeoCoin is 21.61 times more volatile than Cexio Ethereum USD. It trades about 0.23 of its potential returns per unit of risk. Cexio Ethereum USD is currently generating about 0.06 per unit of risk. If you would invest  110  in Yobit GeoCoin USD on December 18, 2017 and sell it today you would earn a total of  590  from holding Yobit GeoCoin USD or generate 536.36% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit GeoCoin and Cexio Ethereum
0.47

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit GeoCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit GeoCoin USD

Pair trading matchups for Yobit GeoCoin

Cexio Ethereum USD

  
3 

Risk-Adjusted Performance

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

Cexio Ethereum USD

Pair trading matchups for Cexio Ethereum