Correlation Analysis Between Yobit Golem and Cexio Stellar

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

Comparative Performance

Yobit Golem Network  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Golem Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Cexio Stellar USD  
0

Risk-Adjusted Performance

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

Yobit Golem and Cexio Stellar Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Golem Network Token USD  vs.  Cexio Stellar USD

Yobit

Golem Network Token on Yobit in USD

 0.08 
0.005  7.03%
Market Cap: 1.0
  

Cexio

Stellar on Cexio in USD

 0.12 
0.001  0.84%
Market Cap: 158 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Golem Network Token USD is expected to generate 1.6 times more return on investment than Cexio Stellar. However, Yobit Golem is 1.6 times more volatile than Cexio Stellar USD. It trades about -0.13 of its potential returns per unit of risk. Cexio Stellar USD is currently generating about -0.22 per unit of risk. If you would invest  16.00  in Yobit Golem Network Token USD on November 19, 2018 and sell it today you would lose (8.89)  from holding Yobit Golem Network Token USD or give up 55.56% of portfolio value over 30 days.

Pair Corralation between Yobit Golem and Cexio Stellar

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit Golem and Cexio Stellar

Yobit Golem Network Token USD diversification synergy

Almost no diversification

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

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