Correlation Analysis Between Yobit NEM and Bitfinex Recovery

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

Yobit NEM USD  
00

Risk-Adjusted Performance

Over the last 30 days Yobit NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly strong basic indicators, Yobit NEM is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to short term losses for the investors.
Bitfinex Recovery Right  
00

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. In spite of rather sound fundamental drivers, Bitfinex Recovery is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Yobit NEM and Bitfinex Recovery Volatility Contrast

Yobit NEM USD  vs.  Bitfinex Recovery Right Tokens

Yobit

NEM on Yobit in USD

 0.00 
0.00  0.00%
Market Cap: 38.0
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.00 
0.00  0.00%
Market Cap: 224
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in Bitfinex Recovery Right Tokens USD on August 21, 2019 and sell it today you would earn a total of  0.00  from holding Bitfinex Recovery Right Tokens USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Yobit NEM and Bitfinex Recovery

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Diversification Opportunities for Yobit NEM and Bitfinex Recovery

Yobit NEM USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Yobit NEM 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 NEM 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 NEM 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 NEM i.e. Yobit NEM and Bitfinex Recovery go up and down completely randomly.
See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.


 
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