Correlation Analysis Between EXRATES Bitcoin and Yobit Bitcoin

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

Comparative Performance

EXRATES Bitcoin USD  
00

Risk-Adjusted Performance

Over the last 30 days EXRATES Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of latest weak performance, the Crypto's forward-looking signals remain invariable and the latest agitation on Wall Street may also be a sign of long running gains for the entity management.
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.

EXRATES Bitcoin and Yobit Bitcoin Volatility Contrast

 Predicted Return Density 
      Returns 

EXRATES Bitcoin USD  vs.  Yobit Bitcoin USD

EXRATES

Bitcoin on EXRATES in USD

 10,085 
(94.16)  0.93%
Market Cap: 1332.8 B
  

Yobit

Bitcoin on Yobit in USD

 10,562 
(155.91)  1.45%
Market Cap: 991.1 M
(476.65)
4.73% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, EXRATES Bitcoin USD is expected to generate 1.31 times more return on investment than Yobit Bitcoin. However, EXRATES Bitcoin is 1.31 times more volatile than Yobit Bitcoin USD. It trades about -0.03 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  1,140,457  in EXRATES Bitcoin USD on July 26, 2019 and sell it today you would lose (134,018)  from holding EXRATES Bitcoin USD or give up 11.75% of portfolio value over 30 days.

Pair Corralation between EXRATES Bitcoin and Yobit Bitcoin

0.57
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy95.45%
ValuesDaily Returns

Diversification Opportunities for EXRATES Bitcoin and Yobit Bitcoin

EXRATES Bitcoin USD diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding EXRATES 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 EXRATES 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 EXRATES 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 EXRATES Bitcoin i.e. EXRATES Bitcoin and Yobit Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
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