Correlation Analysis Between Yobit Bitcoin and Coinroom Bitcoin

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

Comparative Performance

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.
Coinroom Bitcoin USD  
0

Risk-Adjusted Performance

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

Yobit Bitcoin and Coinroom Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Bitcoin USD  vs.  Coinroom Bitcoin USD

Yobit

Bitcoin on Yobit in USD

 3,418 
(66.36)  1.90%
Market Cap: 125.8 M
  

Coinroom

Bitcoin on Coinroom in USD

 3,166 
(20.08)  0.63%
Market Cap: 1.9 B
 251.99 
7.37% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to generate 0.64 times more return on investment than Coinroom Bitcoin. However, Yobit Bitcoin USD is 1.57 times less risky than Coinroom Bitcoin. It trades about -0.53 of its potential returns per unit of risk. Coinroom Bitcoin USD is currently generating about -0.35 per unit of risk. If you would invest  679,500  in Yobit Bitcoin USD on November 16, 2018 and sell it today you would lose (337,728)  from holding Yobit Bitcoin USD or give up 49.7% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcoin and Coinroom Bitcoin

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit Bitcoin and Coinroom Bitcoin

Yobit Bitcoin USD diversification synergy

No risk reduction

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

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