Pair Correlation Between Yobit BitTokens and Bitfinex Recovery

This module allows you to analyze existing cross correlation between Yobit BitTokens USD and Bitfinex Recovery Right Tokens USD. You can compare the effects of market volatilities on Yobit BitTokens 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 BitTokens with a short position of Bitfinex Recovery. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit BitTokens and Bitfinex Recovery.
 Time Horizon     30 Days    Login   to change
 Yobit BitTokens USD  vs   Bitfinex Recovery Right Tokens


BitTokens on Yobit in USD
1  68.97%
Market Cap: 39.0


Recovery Right Tokens on Bitfinex in USD
(0.0504)  27.14%
Market Cap: 662.3 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitTokens USD is expected to generate 20.53 times more return on investment than Bitfinex Recovery. However, Yobit BitTokens is 20.53 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.24 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.18 per unit of risk. If you would invest  299  in Yobit BitTokens USD on December 17, 2017 and sell it today you would lose (54)  from holding Yobit BitTokens USD or give up 18.06% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitTokens and Bitfinex Recovery


Time Period1 Month [change]
ValuesDaily Returns


Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit BitTokens 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 BitTokens 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 BitTokens 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 BitTokens i.e. Yobit BitTokens and Bitfinex Recovery go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

Yobit BitTokens USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitTokens USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Bitfinex Recovery Right


Risk-Adjusted Performance

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