Pair Correlation Between Yobit HempCoin and Bitfinex Recovery

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


HempCoin on Yobit in USD
(0.00001)  6.25%
Market Cap: 1.7 K


Recovery Right Tokens on Bitfinex in USD
0.0427  31.17%
Market Cap: 662.3 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit HempCoin USD is expected to generate 9.53 times more return on investment than Bitfinex Recovery. However, Yobit HempCoin is 9.53 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.19 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.09 per unit of risk. If you would invest  0.01  in Yobit HempCoin USD on December 21, 2017 and sell it today you would earn a total of  0.01  from holding Yobit HempCoin USD or generate 66.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit HempCoin and Bitfinex Recovery


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

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

Comparative Volatility

 Predicted Return Density 

Yobit HempCoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HempCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit HempCoin USD

Pair trading matchups for Yobit HempCoin

Bitfinex Recovery Right


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