Correlation Analysis Between Bitfinex Recovery and Yobit Influxcoin

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

Comparative Performance

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 Influxcoin USD  
0

Risk-Adjusted Performance

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

Bitfinex Recovery and Yobit Influxcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Recovery Right Tokens  vs.  Yobit Influxcoin USD

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.03679 
0.00116  3.26%
Market Cap: 145
  

Yobit

Influxcoin on Yobit in USD

 0.01 
(0.019)  65.52%
Market Cap: 14.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to generate 0.1 times more return on investment than Yobit Influxcoin. However, Bitfinex Recovery Right Tokens USD is 10.19 times less risky than Yobit Influxcoin. It trades about 0.04 of its potential returns per unit of risk. Yobit Influxcoin USD is currently generating about -0.58 per unit of risk. If you would invest  3.54  in Bitfinex Recovery Right Tokens USD on November 18, 2018 and sell it today you would earn a total of  0.14  from holding Bitfinex Recovery Right Tokens USD or generate 3.93% return on investment over 30 days.

Pair Corralation between Bitfinex Recovery and Yobit Influxcoin

0.01
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy6.98%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Recovery and Yobit Influxcoin

Bitfinex Recovery Right Tokens diversification synergy

Significant diversification

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

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