Correlation Analysis Between Yobit SibCoin and Bitfinex Recovery

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

Yobit SibCoin USD  vs.  Bitfinex Recovery Right Tokens


SibCoin on Yobit in USD

0.025  12.50%
Market Cap: 12.0


Recovery Right Tokens on Bitfinex in USD

0.0016  4.52%
Market Cap: 238
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit SibCoin USD is expected to under-perform the Bitfinex Recovery. In addition to that, Yobit SibCoin is 1.27 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about -0.12 of its total potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.07 per unit of volatility. If you would invest  3.33  in Bitfinex Recovery Right Tokens USD on September 20, 2018 and sell it today you would earn a total of  0.21  from holding Bitfinex Recovery Right Tokens USD or generate 6.21% return on investment over 30 days.

Pair Corralation between Yobit SibCoin and Bitfinex Recovery

Time Period1 Month [change]
ValuesDaily Returns


Good diversification

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

Comparative Volatility

 Predicted Return Density 
Yobit SibCoin USD  

Risk-Adjusted Performance

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

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.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.