Correlation Analysis Between Yobit HOdlcoin and CCEX Dogecoin

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

Yobit HOdlcoin USD  vs.  CCEX Dogecoin USD

Yobit

HOdlcoin on Yobit in USD

 0.004309 
0.002097  94.80%
Market Cap: 0
  

CCEX

Dogecoin on CCEX in USD

 0.005782 
0.000418  6.74%
Market Cap: 724
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit HOdlcoin USD is expected to generate 1.82 times more return on investment than CCEX Dogecoin. However, Yobit HOdlcoin is 1.82 times more volatile than CCEX Dogecoin USD. It trades about 0.21 of its potential returns per unit of risk. CCEX Dogecoin USD is currently generating about 0.34 per unit of risk. If you would invest  0.22  in Yobit HOdlcoin USD on August 22, 2018 and sell it today you would earn a total of  0.21  from holding Yobit HOdlcoin USD or generate 94.1% return on investment over 30 days.

Pair Corralation between Yobit HOdlcoin and CCEX Dogecoin

-0.33
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit HOdlcoin USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HOdlcoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
CCEX Dogecoin USD  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Dogecoin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.

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