Correlation Analysis Between Yobit ClubCoin and Bitfinex NEO

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

Yobit ClubCoin USD  vs.  Bitfinex NEO USD

Yobit

ClubCoin on Yobit in USD

 1.02 
0.01  0.97%
Market Cap: 0
  

Bitfinex

NEO on Bitfinex in USD

 16.83 
0.05  0.30%
Market Cap: 7.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 7.8 times more return on investment than Bitfinex NEO. However, Yobit ClubCoin is 7.8 times more volatile than Bitfinex NEO USD. It trades about 0.23 of its potential returns per unit of risk. Bitfinex NEO USD is currently generating about -0.09 per unit of risk. If you would invest  45.00  in Yobit ClubCoin USD on September 23, 2018 and sell it today you would earn a total of  57.00  from holding Yobit ClubCoin USD or generate 126.67% return on investment over 30 days.

Pair Corralation between Yobit ClubCoin and Bitfinex NEO

-0.78
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy95.45%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.
Bitfinex NEO USD  
0 

Risk-Adjusted Performance

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

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