Correlation Analysis Between Yobit Rise and Bitfinex Recovery

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

Yobit Rise USD  vs.  Bitfinex Recovery Right Tokens

Yobit

Rise on Yobit in USD

 0.08 
0.00356  4.86%
Market Cap: 2.0
  

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 Rise USD is expected to generate 6.29 times more return on investment than Bitfinex Recovery. However, Yobit Rise is 6.29 times more volatile than Bitfinex Recovery Right Tokens USD. It trades about 0.09 of its potential returns per unit of risk. Bitfinex Recovery Right Tokens USD is currently generating about -0.07 per unit of risk. If you would invest  7.30  in Yobit Rise USD on November 11, 2018 and sell it today you would earn a total of  0.37  from holding Yobit Rise USD or generate 5.12% return on investment over 30 days.

Pair Corralation between Yobit Rise and Bitfinex Recovery

-0.06
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Yobit Rise USD diversification synergy

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Rise USD  
6

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rise 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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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1051.75

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