Correlation Analysis Between Bitstamp Bitcoin and Yobit Bitcoin

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

Bitstamp Bitcoin USD  vs.  Yobit Bitcoin USD

Bitstamp

Bitcoin on Bitstamp in USD
 6,317 
85.25  1.33%
Market Cap: 115.6 B
  

Yobit

Bitcoin on Yobit in USD
 6,515 
30.63  0.47%
Market Cap: 2.5 B
(198.97)
3.15% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Bitcoin USD is expected to under-perform the Yobit Bitcoin. In addition to that, Bitstamp Bitcoin is 1.25 times more volatile than Yobit Bitcoin USD. It trades about -0.13 of its total potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.13 per unit of volatility. If you would invest  733,100  in Yobit Bitcoin USD on July 17, 2018 and sell it today you would lose (80,576)  from holding Yobit Bitcoin USD or give up 10.99% of portfolio value over 30 days.

Pair Corralation between Bitstamp Bitcoin and Yobit Bitcoin

0.98
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Bitcoin USD  
0 

Risk-Adjusted Performance

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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