Pair Correlation Between Yobit TittieCoin and BitTrex Ethereum

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

Yobit

TittieCoin on Yobit in USD
 0.00185 
0.000455  32.62%
Market Cap: 106

BitTrex

Ethereum Classic on BitTrex in USD
 32.02 
1.99  6.63%
Market Cap: 88.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit TittieCoin USD is expected to generate 9.45 times more return on investment than BitTrex Ethereum. However, Yobit TittieCoin is 9.45 times more volatile than BitTrex Ethereum Classic USD. It trades about 0.29 of its potential returns per unit of risk. BitTrex Ethereum Classic USD is currently generating about 0.01 per unit of risk. If you would invest  0.04  in Yobit TittieCoin USD on December 20, 2017 and sell it today you would earn a total of  0.1  from holding Yobit TittieCoin USD or generate 282.19% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit TittieCoin and BitTrex Ethereum
0.4

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit TittieCoin 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 TittieCoin 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 TittieCoin 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 TittieCoin i.e. Yobit TittieCoin and BitTrex Ethereum go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit TittieCoin USD

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit TittieCoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

Yobit TittieCoin USD

Pair trading matchups for Yobit TittieCoin

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.

BitTrex Ethereum Classic USD

Pair trading matchups for BitTrex Ethereum