Pair Correlation Between Yobit Positron and Bitfinex Recovery

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

Yobit

Positron on Yobit in USD
 18.2 
0.1  0.55%
Market Cap: 132

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.17 
(0.0157)  8.44%
Market Cap: 662.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Positron USD is expected to generate 9.09 times more return on investment than Bitfinex Recovery. However, Yobit Positron is 9.09 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 0.05 per unit of risk. If you would invest  100  in Yobit Positron USD on December 22, 2017 and sell it today you would earn a total of  1,710  from holding Yobit Positron USD or generate 1710.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Positron and Bitfinex Recovery
-0.17

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Positron USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Positron USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit Positron USD

Pair trading matchups for Yobit Positron

Bitfinex Recovery Right

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Recovery Right Tokens USD

Pair trading matchups for Bitfinex Recovery