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This module allows you to analyze existing cross correlation between Yobit Bitcoin USD and Bitfinex Bitcoin USD. You can compare the effects of market volatilities on Yobit Bitcoin and Bitfinex 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 Yobit Bitcoin with a short position of Bitfinex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Bitcoin and Bitfinex Bitcoin.
|Horizon||30 Days Login to change|
|Yobit Bitcoin USD|
Yobit Bitcoin and Bitfinex Bitcoin Volatility Contrast
Predicted Return Density
Yobit Bitcoin USD vs. Bitfinex Bitcoin USD
Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to generate 0.65 times more return on investment than Bitfinex Bitcoin. However, Yobit Bitcoin USD is 1.54 times less risky than Bitfinex Bitcoin. It trades about -0.52 of its potential returns per unit of risk. Bitfinex Bitcoin USD is currently generating about -0.34 per unit of risk. If you would invest 679,500 in Yobit Bitcoin USD on November 16, 2018 and sell it today you would lose (338,450) from holding Yobit Bitcoin USD or give up 49.81% of portfolio value over 30 days.
Pair Corralation between Yobit Bitcoin and Bitfinex Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Yobit Bitcoin and Bitfinex Bitcoin
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitcoin USD and Bitfinex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Bitcoin USD and Yobit 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 Yobit Bitcoin USD are associated (or correlated) with Bitfinex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Bitcoin USD has no effect on the direction of Yobit Bitcoin i.e. Yobit Bitcoin and Bitfinex Bitcoin go up and down completely randomly.