Correlation Analysis Between Yobit BitBean and Bitfinex ZCash

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

Yobit BitBean USD  vs.  Bitfinex ZCash USD

Yobit

BitBean on Yobit in USD

 0.0011 
(0.000454)  29.21%
Market Cap: 0
  

Bitfinex

ZCash on Bitfinex in USD

 57.79 
(1.89)  3.17%
Market Cap: 110.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 23.01 times more return on investment than Bitfinex ZCash. However, Yobit BitBean is 23.01 times more volatile than Bitfinex ZCash USD. It trades about 0.16 of its potential returns per unit of risk. Bitfinex ZCash USD is currently generating about -0.16 per unit of risk. If you would invest  0.40  in Yobit BitBean USD on November 10, 2018 and sell it today you would lose (0.29)  from holding Yobit BitBean USD or give up 72.5% of portfolio value over 30 days.

Pair Corralation between Yobit BitBean and Bitfinex ZCash

0.54
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy97.73%
ValuesDaily Returns

Diversification

Yobit BitBean USD diversification synergy

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit BitBean USD  
10

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Bitfinex ZCash USD  
0

Risk-Adjusted Performance

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

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Alphabet
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ExchangeNASDAQ
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