This module allows you to analyze existing cross correlation between Bitfinex Recovery Right Tokens USD and Yobit BitTokens USD. You can compare the effects of market volatilities on Bitfinex Recovery and Yobit BitTokens 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 BitTokens. See also your portfolio center
. Please also check ongoing floating volatility patterns of Bitfinex Recovery
and Yobit BitTokens
Bitfinex Recovery Right Tokens vs Yobit BitTokens USD
Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to under-perform the Yobit BitTokens. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Recovery Right Tokens USD is 20.53 times less risky than Yobit BitTokens. The crypto trades about -0.18 of its potential returns per unit of risk. The Yobit BitTokens USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 299 in Yobit BitTokens USD on December 17, 2017 and sell it today you would lose (54) from holding Yobit BitTokens USD or give up 18.06% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Recovery Right Tokens and Yobit BitTokens USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit BitTokens 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 BitTokens. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit BitTokens USD has no effect on the direction of Bitfinex Recovery i.e. Bitfinex Recovery and Yobit BitTokens go up and down completely randomly.
Over the last 30 days Bitfinex Recovery Right Tokens USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitTokens USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.