Correlation Analysis Between Yobit Bitcoin and itBit Bitcoin

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

Yobit Bitcoin USD  vs.  itBit Bitcoin USD

Yobit

Bitcoin on Yobit in USD

 6,834 
30.28  0.45%
Market Cap: 2.9 M
  

itBit

Bitcoin on itBit in USD

 6,710 
167.01  2.55%
Market Cap: 8.1 B
 124.01 
1.81% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to generate 0.76 times more return on investment than itBit Bitcoin. However, Yobit Bitcoin USD is 1.31 times less risky than itBit Bitcoin. It trades about 0.06 of its potential returns per unit of risk. itBit Bitcoin USD is currently generating about 0.02 per unit of risk. If you would invest  665,171  in Yobit Bitcoin USD on August 22, 2018 and sell it today you would earn a total of  15,201  from holding Yobit Bitcoin USD or generate 2.29% return on investment over 30 days.

Pair Corralation between Yobit Bitcoin and itBit Bitcoin

0.66
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 itBit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit 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 itBit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Bitcoin USD has no effect on the direction of Yobit Bitcoin i.e. Yobit Bitcoin and itBit Bitcoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitcoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
itBit Bitcoin USD  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in itBit Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1161.22

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