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
Compare Efficiency

Comparative Performance

OKCoin Bitcoin USD  
0

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

OKCoin Bitcoin and Yobit Reddcoin Volatility Contrast

 Predicted Return Density 
      Returns 

OKCoin Bitcoin USD  vs.  Yobit Reddcoin USD

OKCoin

Bitcoin on OKCoin in USD

 3,596 
8.49  0.24%
Market Cap: 944.7 M
  

Yobit

Reddcoin on Yobit in USD

 0.00125 
(0.000085)  6.37%
Market Cap: 97.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, OKCoin Bitcoin USD is expected to under-perform the Yobit Reddcoin. But the crypto apears to be less risky and, when comparing its historical volatility, OKCoin Bitcoin USD is 2.66 times less risky than Yobit Reddcoin. The crypto trades about -0.05 of its potential returns per unit of risk. The Yobit Reddcoin USD is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  0.14  in Yobit Reddcoin USD on January 20, 2019 and sell it today you would lose (0.01)  from holding Yobit Reddcoin USD or give up 8.61% of portfolio value over 30 days.

Pair Corralation between OKCoin Bitcoin and Yobit Reddcoin

0.11
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy90.24%
ValuesDaily Returns

Diversification Opportunities for OKCoin Bitcoin and Yobit Reddcoin

OKCoin Bitcoin USD diversification synergy

Average 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.

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Yobit Reddcoin USD

Pair trading matchups for Yobit Reddcoin

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