Correlation Analysis Between Yobit ClubCoin and Bitfinex Recovery

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

Yobit ClubCoin USD  vs.  Bitfinex Recovery Right Tokens

Yobit

ClubCoin on Yobit in USD

 1.16 
0.10  7.94%
Market Cap: 82.0
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.0355 
0.00069  1.91%
Market Cap: 238
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 3.51 times more return on investment than Bitfinex Recovery. However, Yobit ClubCoin is 3.51 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.28 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  33.20  in Yobit ClubCoin USD on September 18, 2018 and sell it today you would earn a total of  72.80  from holding Yobit ClubCoin USD or generate 219.28% return on investment over 30 days.

Pair Corralation between Yobit ClubCoin and Bitfinex Recovery

0.25
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 18 (%) 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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