Pair Correlation Between Yobit GeoCoin and Bitfinex Recovery

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

Yobit

GeoCoin on Yobit in USD
 6.7 
(0.3)  4.29%
Market Cap: 771

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.13 
(0.0547)  29.46%
Market Cap: 662.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 17.33 times more return on investment than Bitfinex Recovery. However, Yobit GeoCoin is 17.33 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.23 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.19 per unit of risk. If you would invest  110  in Yobit GeoCoin USD on December 18, 2017 and sell it today you would earn a total of  560  from holding Yobit GeoCoin USD or generate 509.09% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit GeoCoin and Bitfinex Recovery
0.27

Parameters

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 GeoCoin 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 GeoCoin 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 GeoCoin 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 GeoCoin i.e. Yobit GeoCoin and Bitfinex Recovery go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit GeoCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Yobit GeoCoin USD

Pair trading matchups for Yobit GeoCoin

Bitfinex Recovery Right

  
0 

Risk-Adjusted Performance

Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Bitfinex Recovery Right Tokens USD

Pair trading matchups for Bitfinex Recovery