Correlation Analysis Between Yobit Bitcoin and BitTrex Bitcoin

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

Yobit Bitcoin USD  vs.  BitTrex Bitcoin USD

Yobit

Bitcoin on Yobit in USD

 6,745 
149.22  2.26%
Market Cap: 299.1 M
  

BitTrex

Bitcoin on BitTrex in USD

 6,418 
232.00  3.75%
Market Cap: 1.8 B
 326.72 
4.84% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcoin is expected to generate 1.05 times less return on investment than BitTrex Bitcoin. But when comparing it to its historical volatility, Yobit Bitcoin USD is 1.61 times less risky than BitTrex Bitcoin. It trades about 0.09 of its potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  624,400  in BitTrex Bitcoin USD on September 16, 2018 and sell it today you would earn a total of  15,946  from holding BitTrex Bitcoin USD or generate 2.55% return on investment over 30 days.

Pair Corralation between Yobit Bitcoin and BitTrex Bitcoin

0.78
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitcoin USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
BitTrex Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

My Equities

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1110.08

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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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