Pair Correlation Between Yobit Bitcoin and TrustDEX Bitcoin

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

Yobit Bitcoin USD  vs.  TrustDEX Bitcoin USD

Yobit

Bitcoin on Yobit in USD
 8,950 
60.00  0.67%
Market Cap: 4.2 B
  

TrustDEX

Bitcoin on TrustDEX in USD
 10,392 
711.70  7.35%
Market Cap: 127.9 B
(1,442)
16.11% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to under-perform the TrustDEX Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Bitcoin USD is 1.15 times less risky than TrustDEX Bitcoin. The crypto trades about -0.04 of its potential returns per unit of risk. The TrustDEX Bitcoin USD is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest  1,054,328  in TrustDEX Bitcoin USD on March 27, 2018 and sell it today you would lose (86,328)  from holding TrustDEX Bitcoin USD or give up 8.19% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcoin and TrustDEX Bitcoin

0.97
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
TrustDEX Bitcoin USD  
0 

Risk-Adjusted Performance

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

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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.