Correlation Analysis Between Coinsbit Bitcoin and Yobit Bitcoin

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

Comparative Performance

Coinsbit Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days Coinsbit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Coinsbit Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
Yobit Bitcoin USD  
00

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. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

Coinsbit Bitcoin and Yobit Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

Coinsbit Bitcoin USD  vs.  Yobit Bitcoin USD

Coinsbit

Bitcoin on Coinsbit in USD

 10,243 
71.00  0.70%
Market Cap: 162.4 B
  

Yobit

Bitcoin on Yobit in USD

 10,541 
(176.70)  1.65%
Market Cap: 991.1 M
(298.00)
2.91% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Coinsbit Bitcoin USD is expected to generate 1.5 times more return on investment than Yobit Bitcoin. However, Coinsbit Bitcoin is 1.5 times more volatile than Yobit Bitcoin USD. It trades about 0.0 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.08 per unit of risk. If you would invest  1,096,200  in Coinsbit Bitcoin USD on July 26, 2019 and sell it today you would lose (79,000)  from holding Coinsbit Bitcoin USD or give up 7.21% of portfolio value over 30 days.

Pair Corralation between Coinsbit Bitcoin and Yobit Bitcoin

0.82
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Coinsbit Bitcoin and Yobit Bitcoin

Coinsbit Bitcoin USD diversification synergy

Very poor diversification

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