Correlation Analysis Between OKCoin Bitcoin and Bitfinex Recovery

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

Comparative Performance

OKCoin Bitcoin USD  
0

Risk-Adjusted Performance

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

OKCoin Bitcoin and Bitfinex Recovery Volatility Contrast

 Predicted Return Density 
      Returns 

OKCoin Bitcoin USD  vs.  Bitfinex Recovery Right Tokens

OKCoin

Bitcoin on OKCoin in USD

 3,596 
8.49  0.24%
Market Cap: 944.7 M
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.035 
0.0012  3.55%
Market Cap: 91.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Bitcoin USD is expected to under-perform the Bitfinex Recovery. In addition to that, OKCoin Bitcoin is 1.05 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about -0.1 of its total potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.03 per unit of volatility. If you would invest  3.66  in Bitfinex Recovery Right Tokens USD on January 18, 2019 and sell it today you would lose (0.16)  from holding Bitfinex Recovery Right Tokens USD or give up 4.32% of portfolio value over 30 days.

Pair Corralation between OKCoin Bitcoin and Bitfinex Recovery

0.32
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy92.86%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and Bitfinex Recovery

OKCoin Bitcoin USD diversification synergy

Weak diversification

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

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Bitfinex Recovery Right Tokens USD

Pair trading matchups for Bitfinex Recovery

See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.


 
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