Bitfinex Bitcoin USD vs. Yobit Bitcoin USD
Assuming 30 trading days horizon, Bitfinex Bitcoin USD is expected to generate 1.23 times more return on investment than Yobit Bitcoin. However, Bitfinex Bitcoin is 1.23 times more volatile than Yobit Bitcoin USD. It trades about -0.18 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.26 per unit of risk. If you would invest 806,002 in Bitfinex Bitcoin USD on May 21, 2018 and sell it today you would lose (144,732) from holding Bitfinex Bitcoin USD or give up 17.96% of portfolio value over 30 days.
Pair Corralation between Bitfinex Bitcoin and Yobit Bitcoin
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Bitcoin USD and Yobit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Bitcoin USD and Bitfinex Bitcoin 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 Bitfinex Bitcoin USD are associated (or correlated) with Yobit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Bitcoin USD has no effect on the direction of Bitfinex Bitcoin i.e. Bitfinex Bitcoin and Yobit Bitcoin go up and down completely randomly.
Over the last 30 days Bitfinex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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