Pair Correlation Between Bitfinex Recovery and Yobit Chip

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

Bitfinex Recovery Right Tokens  vs.  Yobit Chip USD

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.06239 
0.00261  4.02%
Market Cap: 15 K
  

Yobit

Chip on Yobit in USD
 0.003157 
0.000001  0.0317%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to generate 0.39 times more return on investment than Yobit Chip. However, Bitfinex Recovery Right Tokens USD is 2.56 times less risky than Yobit Chip. It trades about 0.04 of its potential returns per unit of risk. Yobit Chip USD is currently generating about 0.02 per unit of risk. If you would invest  6.13  in Bitfinex Recovery Right Tokens USD on March 22, 2018 and sell it today you would earn a total of  0.11  from holding Bitfinex Recovery Right Tokens USD or generate 1.78% return on investment over 30 days.

Pair Corralation between Bitfinex Recovery and Yobit Chip

-0.07
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Recovery Right  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Yobit Chip USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Chip USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1072.96

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