This module allows you to analyze existing cross correlation between Yobit Bitcloud USD and Bitfinex Recovery Right Tokens USD. You can compare the effects of market volatilities on Yobit Bitcloud and Bitfinex Recovery 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 Bitcloud with a short position of Bitfinex Recovery. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Bitcloud and Bitfinex Recovery.
Yobit Bitcloud USD vs. Bitfinex Recovery Right Tokens
Bitcloud on Yobit in USD
Market Cap: 1.0
Recovery Right Tokens on Bitfinex in USD
Market Cap: 17.1 K
Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to under-perform the Bitfinex Recovery. In addition to that, Yobit Bitcloud is 1.02 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about -0.17 of its total potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about 0.05 per unit of volatility. If you would invest 6.20 in Bitfinex Recovery Right Tokens USD on April 24, 2018 and sell it today you would earn a total of 0.25 from holding Bitfinex Recovery Right Tokens USD or generate 4.05% return on investment over 30 days.
Pair Corralation between Yobit Bitcloud and Bitfinex Recovery
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitcloud USD and Bitfinex Recovery Right Tokens in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Recovery Right and Yobit Bitcloud 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 Bitcloud USD are associated (or correlated) with Bitfinex Recovery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Recovery Right has no effect on the direction of Yobit Bitcloud i.e. Yobit Bitcloud and Bitfinex Recovery go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
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