Correlation Analysis Between Yobit Ethereum and Bitfinex Recovery

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

Yobit Ethereum Classic USD  vs.  Bitfinex Recovery Right Tokens

Yobit

Ethereum Classic on Yobit in USD

 4.15 
0.15  3.75%
Market Cap: 2.3 K
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.03574 
(0.00024)  0.67%
Market Cap: 145
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the Bitfinex Recovery. In addition to that, Yobit Ethereum is 1.25 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about -0.36 of its total potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.07 per unit of volatility. If you would invest  4.20  in Bitfinex Recovery Right Tokens USD on November 10, 2018 and sell it today you would lose (0.63)  from holding Bitfinex Recovery Right Tokens USD or give up 14.88% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and Bitfinex Recovery

0.26
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy97.73%
ValuesDaily Returns

Diversification

Yobit Ethereum Classic USD diversification synergy

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Ethereum Classic  
0

Risk-Adjusted Performance

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

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.

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