Pair Correlation Between Yobit B3 and Bitfinex Recovery

This module allows you to analyze existing cross correlation between Yobit B3 Coin USD and Bitfinex Recovery Right Tokens USD. You can compare the effects of market volatilities on Yobit B3 and Bitfinex Recovery 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 Yobit B3 with a short position of Bitfinex Recovery. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit B3 and Bitfinex Recovery.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Yobit B3 Coin USD  vs   Bitfinex Recovery Right Tokens

Yobit

B3 Coin on Yobit in USD
 0.0003341 
0.0000541  19.32%
Market Cap: 45.0

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.26 
0.008  3.23%
Market Cap: 12.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 is expected to generate 1.78 times less return on investment than Bitfinex Recovery. In addition to that, Yobit B3 is 1.08 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.07 of its total potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.13 per unit of volatility. If you would invest  15.4  in Bitfinex Recovery Right Tokens USD on November 15, 2017 and sell it today you would earn a total of  8.99  from holding Bitfinex Recovery Right Tokens USD or generate 58.38% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and Bitfinex Recovery
0.2

Parameters

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

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit B3 Coin USD and Bitfinex Recovery Right Tokens in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Recovery Right and Yobit B3 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 Yobit B3 Coin USD are associated (or correlated) with Bitfinex Recovery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Recovery Right has no effect on the direction of Yobit B3 i.e. Yobit B3 and Bitfinex Recovery go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit B3 Coin

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit B3 Coin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Recovery Right

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.