Correlation Analysis Between Bitfinex Recovery and Yobit CometCoin

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

Bitfinex Recovery Right Tokens  vs.  Yobit CometCoin USD

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.06 
0.00299  4.41%
Market Cap: 104.9 K
  

Yobit

CometCoin on Yobit in USD
 0.07 
0.00349  5.41%
Market Cap: 10.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery is expected to generate 1.89 times less return on investment than Yobit CometCoin. In addition to that, Bitfinex Recovery is 1.04 times more volatile than Yobit CometCoin USD. It trades about 0.09 of its total potential returns per unit of risk. Yobit CometCoin USD is currently generating about 0.17 per unit of volatility. If you would invest  5.00  in Yobit CometCoin USD on June 19, 2018 and sell it today you would earn a total of  1.79  from holding Yobit CometCoin USD or generate 35.85% return on investment over 30 days.

Pair Corralation between Bitfinex Recovery and Yobit CometCoin

-0.18
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.65%
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 CometCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit CometCoin 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 CometCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit CometCoin USD has no effect on the direction of Bitfinex Recovery i.e. Bitfinex Recovery and Yobit CometCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitfinex Recovery Right  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Yobit CometCoin USD  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CometCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1195.88

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