Pair Correlation Between Bitfinex Recovery and Yobit BigUp

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

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.14 
0.0146  11.54%
Market Cap: 662.3 K

Yobit

BigUp on Yobit in USD
 0.00014 
(0.00005)  26.32%
Market Cap: 140
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to under-perform the Yobit BigUp. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Recovery Right Tokens USD is 19.51 times less risky than Yobit BigUp. The crypto trades about -0.18 of its potential returns per unit of risk. The Yobit BigUp USD is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest  0.02  in Yobit BigUp USD on December 19, 2017 and sell it today you would lose  0.00  from holding Yobit BigUp USD or give up 10.26% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Bitfinex Recovery and Yobit BigUp
0.26

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Recovery Right Tokens and Yobit BigUp USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit BigUp USD and Bitfinex Recovery 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 Recovery Right Tokens USD are associated (or correlated) with Yobit BigUp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit BigUp USD has no effect on the direction of Bitfinex Recovery i.e. Bitfinex Recovery and Yobit BigUp go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

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

Yobit BigUp USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BigUp USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.

Yobit BigUp USD

Pair trading matchups for Yobit BigUp