Pair Correlation Between Bitfinex Recovery and Yobit Rimbit

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

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.14 
0.0075  5.47%
Market Cap: 662.3 K

Yobit

Rimbit on Yobit in USD
 0.014 
0.003  27.27%
Market Cap: 227
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitfinex Recovery Right Tokens USD is expected to under-perform the Yobit Rimbit. But the crypto apears to be less risky and, when comparing its historical volatility, Bitfinex Recovery Right Tokens USD is 24.63 times less risky than Yobit Rimbit. The crypto trades about -0.11 of its potential returns per unit of risk. The Yobit Rimbit USD is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest  0.03  in Yobit Rimbit USD on December 21, 2017 and sell it today you would earn a total of  1.08  from holding Yobit Rimbit USD or generate 4300.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Bitfinex Recovery and Yobit Rimbit
-0.09

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

Yobit Rimbit USD

Pair trading matchups for Yobit Rimbit