Correlation Analysis Between Yobit SkullBuzz and BitTrex Ethereum

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

Yobit SkullBuzz USD  vs.  BitTrex Ethereum Classic USD

Yobit

SkullBuzz on Yobit in USD
 0.02705 
0.00905  50.28%
Market Cap: 1.0
  

BitTrex

Ethereum Classic on BitTrex in USD
 16.00 
0.55  3.32%
Market Cap: 4.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit SkullBuzz USD is expected to generate 4.4 times more return on investment than BitTrex Ethereum. However, Yobit SkullBuzz is 4.4 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.11 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about -0.07 per unit of risk. If you would invest  2.65  in Yobit SkullBuzz USD on April 22, 2018 and sell it today you would earn a total of  0.05  from holding Yobit SkullBuzz USD or generate 1.92% return on investment over 30 days.

Pair Corralation between Yobit SkullBuzz and BitTrex Ethereum

-0.3
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 SkullBuzz USD and BitTrex Ethereum Classic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum Cla and Yobit SkullBuzz 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 SkullBuzz USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum Cla has no effect on the direction of Yobit SkullBuzz i.e. Yobit SkullBuzz and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit SkullBuzz USD  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SkullBuzz USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
BitTrex Ethereum Cla  
0 

Risk-Adjusted Performance

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

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