Correlation Analysis Between Yobit Golem and Bitfinex Recovery

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

Yobit Golem Network Token USD  vs.  Bitfinex Recovery Right Tokens

Yobit

Golem Network Token on Yobit in USD

 0.15 
0.0116  8.11%
Market Cap: 18.0
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.03333 
0.00522  13.54%
Market Cap: 4.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Golem Network Token USD is expected to generate 1.75 times more return on investment than Bitfinex Recovery. However, Yobit Golem is 1.75 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.1 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.06 per unit of risk. If you would invest  13.82  in Yobit Golem Network Token USD on August 24, 2018 and sell it today you would earn a total of  1.64  from holding Yobit Golem Network Token USD or generate 11.87% return on investment over 30 days.

Pair Corralation between Yobit Golem and Bitfinex Recovery

0.6
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Golem Network  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
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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Alphabet
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ExchangeNASDAQ
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