Correlation Analysis Between Yobit Ethereum and Bitfinex SingularDTV

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

Yobit Ethereum Classic USD  vs.  Bitfinex SingularDTV USD

Yobit

Ethereum Classic on Yobit in USD

 11.09 
0.14  1.25%
Market Cap: 141.1 K
  

Bitfinex

SingularDTV on Bitfinex in USD

 0.022 
0.00227  9.35%
Market Cap: 296
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the Bitfinex SingularDTV. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 2.27 times less risky than Bitfinex SingularDTV. The crypto trades about -0.15 of its potential returns per unit of risk. The Bitfinex SingularDTV USD is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest  2.55  in Bitfinex SingularDTV USD on August 26, 2018 and sell it today you would lose (0.35)  from holding Bitfinex SingularDTV USD or give up 13.83% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and Bitfinex SingularDTV

0.44
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy95.45%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ethereum Classic 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 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 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 Ethereum i.e. Yobit Ethereum and Bitfinex SingularDTV 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 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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