Correlation Analysis Between Yobit Bitcloud and Bitfinex ZCash

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

Yobit Bitcloud USD  vs.  Bitfinex ZCash USD

Yobit

Bitcloud on Yobit in USD
 0.02 
0.005  20.00%
Market Cap: 19.0
  

Bitfinex

ZCash on Bitfinex in USD
 196.76 
0.47  0.24%
Market Cap: 500.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 1.3 times more return on investment than Bitfinex ZCash. However, Yobit Bitcloud is 1.3 times more volatile than Bitfinex ZCash USD. It trades about -0.07 of its potential returns per unit of risk. Bitfinex ZCash USD is currently generating about -0.28 per unit of risk. If you would invest  2.50  in Yobit Bitcloud USD on May 20, 2018 and sell it today you would lose (0.50)  from holding Yobit Bitcloud USD or give up 20.0% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcloud and Bitfinex ZCash

0.52
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitcloud USD  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1168.06

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