Correlation Analysis Between Yobit Bitcoin and Bitstamp Bitcoin

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

Yobit Bitcoin USD  vs.  Bitstamp Bitcoin USD

Yobit

Bitcoin on Yobit in USD
 7,530 
70.00  0.94%
Market Cap: 1.4 B
  

Bitstamp

Bitcoin on Bitstamp in USD
 7,453 
38.67  0.52%
Market Cap: 360.8 B
 76.62 
1.02% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  677,910  in Yobit Bitcoin USD on June 20, 2018 and sell it today you would earn a total of  75,090  from holding Yobit Bitcoin USD or generate 11.08% return on investment over 30 days.

Pair Corralation between Yobit Bitcoin and Bitstamp Bitcoin

0.92
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy4.55%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitcoin USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Bitstamp Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitstamp 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.


 
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