Correlation Analysis Between Yobit CryptoSpots and Bitfinex SingularDTV

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

Yobit CryptoSpots USD  vs.  Bitfinex SingularDTV USD

Yobit

CryptoSpots on Yobit in USD

 0.007531 
(0.001469)  16.32%
Market Cap: 1.0
  

Bitfinex

SingularDTV on Bitfinex in USD

 0.01319 
(0.00224)  14.52%
Market Cap: 30.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CryptoSpots USD is expected to generate 3.25 times more return on investment than Bitfinex SingularDTV. However, Yobit CryptoSpots is 3.25 times more volatile than Bitfinex SingularDTV USD. It trades about 0.12 of its potential returns per unit of risk. Bitfinex SingularDTV USD is currently generating about -0.07 per unit of risk. If you would invest  0.60  in Yobit CryptoSpots USD on November 12, 2018 and sell it today you would earn a total of  0.30  from holding Yobit CryptoSpots USD or generate 50.0% return on investment over 30 days.

Pair Corralation between Yobit CryptoSpots and Bitfinex SingularDTV

0.56
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy97.67%
ValuesDaily Returns

Diversification

Yobit CryptoSpots USD diversification synergy

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit CryptoSpots USD  
8

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CryptoSpots USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Bitfinex SingularDTV USD  
0

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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