Correlation Analysis Between Yobit Bitcoin and BitBay Bitcoin

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

Yobit Bitcoin USD  vs.  BitBay Bitcoin USD

Yobit

Bitcoin on Yobit in USD
 6,499 
58.99  0.92%
Market Cap: 1.4 B
  

BitBay

Bitcoin on BitBay in USD
 0.00 
0.00  0.00%
Market Cap: 1.3 B
 6,499 
100.00% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in BitBay Bitcoin USD on June 17, 2018 and sell it today you would earn a total of  0.00  from holding BitBay Bitcoin USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Yobit Bitcoin and BitBay Bitcoin

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.76%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
BitBay Bitcoin USD  
0 

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.