Correlation Analysis Between Bitfinex Recovery and Yobit MaxCoin

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

Comparative Performance

Bitfinex Recovery Right  
0

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit MaxCoin USD  
5

Risk-Adjusted Performance

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

Bitfinex Recovery and Yobit MaxCoin Volatility Contrast

 Predicted Return Density 
      Returns 

Bitfinex Recovery Right Tokens  vs.  Yobit MaxCoin USD

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.0365 
0.00135  0.04%
Market Cap: 91.0
  

Yobit

MaxCoin on Yobit in USD

 0.0135 
0.004418  0.49%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery is expected to generate 422.35 times less return on investment than Yobit MaxCoin. But when comparing it to its historical volatility, Bitfinex Recovery Right Tokens USD is 6.62 times less risky than Yobit MaxCoin. It trades about 0.0 of its potential returns per unit of risk. Yobit MaxCoin USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  1.30  in Yobit MaxCoin USD on December 19, 2018 and sell it today you would earn a total of  0.05  from holding Yobit MaxCoin USD or generate 3.85% return on investment over 30 days.

Pair Corralation between Bitfinex Recovery and Yobit MaxCoin

-0.09
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Recovery and Yobit MaxCoin

Bitfinex Recovery Right Tokens diversification synergy

Good diversification

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

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