Correlation Analysis Between OKCoin Bitcoin and Yobit Reddcoin

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

Comparative Performance

OKCoin Bitcoin USD  
2121

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in OKCoin Bitcoin USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, OKCoin Bitcoin sustained solid returns over the last few months and may actually be approaching a breakup point.
Yobit Reddcoin USD  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Reddcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, Yobit Reddcoin reported solid returns over the last few months and may actually be approaching a breakup point.

OKCoin Bitcoin and Yobit Reddcoin Volatility Contrast

 Predicted Return Density 
      Returns 

OKCoin Bitcoin USD  vs.  Yobit Reddcoin USD

OKCoin

Bitcoin on OKCoin in USD

 8,648 
(175.24)  1.99%
Market Cap: 17.1 B
  

Yobit

Reddcoin on Yobit in USD

 0.001753 
(0.000147)  7.74%
Market Cap: 48.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Bitcoin USD is expected to generate 0.59 times more return on investment than Yobit Reddcoin. However, OKCoin Bitcoin USD is 1.69 times less risky than Yobit Reddcoin. It trades about 0.31 of its potential returns per unit of risk. Yobit Reddcoin USD is currently generating about 0.05 per unit of risk. If you would invest  522,070  in OKCoin Bitcoin USD on May 17, 2019 and sell it today you would earn a total of  360,283  from holding OKCoin Bitcoin USD or generate 69.01% return on investment over 30 days.

Pair Corralation between OKCoin Bitcoin and Yobit Reddcoin

0.37
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy97.73%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and Yobit Reddcoin

OKCoin Bitcoin USD diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding OKCoin Bitcoin USD and Yobit Reddcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Reddcoin USD and OKCoin 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 OKCoin Bitcoin USD are associated (or correlated) with Yobit Reddcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Reddcoin USD has no effect on the direction of OKCoin Bitcoin i.e. OKCoin Bitcoin and Yobit Reddcoin go up and down completely randomly.
See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.


 
Search macroaxis.com