Pair Correlation Between Yobit LeaCoin and Bitfinex Recovery

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

Yobit

LeaCoin on Yobit in USD
 0.00198 
0.00108  120%
Market Cap: 8.0

Bitfinex

Recovery Right Tokens on Bitfinex in USD
 0.13 
(0.0572)  30.8%
Market Cap: 662.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit LeaCoin USD is expected to generate 26.26 times more return on investment than Bitfinex Recovery. However, Yobit LeaCoin is 26.26 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.23 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.18 per unit of risk. If you would invest  0.05  in Yobit LeaCoin USD on December 17, 2017 and sell it today you would earn a total of  0.04  from holding Yobit LeaCoin USD or generate 80.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit LeaCoin and Bitfinex Recovery
0.78

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit LeaCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit LeaCoin USD are ranked lower than 15 (%) 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.