Correlation Analysis Between Yobit Chip and Bitfinex Recovery

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

Yobit Chip USD  vs.  Bitfinex Recovery Right Tokens

Yobit

Chip on Yobit in USD

 0.001601 
0.001108  224.75%
Market Cap: 2.0
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.03507 
0.00112  3.09%
Market Cap: 238
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Chip USD is expected to generate 6.51 times more return on investment than Bitfinex Recovery. However, Yobit Chip is 6.51 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.21 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.07 per unit of risk. If you would invest  0.05  in Yobit Chip USD on September 18, 2018 and sell it today you would earn a total of  0.11  from holding Yobit Chip USD or generate 224.75% return on investment over 30 days.

Pair Corralation between Yobit Chip and Bitfinex Recovery

-0.31
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Chip 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 Yobit Chip 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 Chip 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 Yobit Chip i.e. Yobit Chip and Bitfinex Recovery go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Chip USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Chip USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
Bitfinex Recovery Right  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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ExchangeNASDAQ
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