Correlation Analysis Between Bitfinex Golem and Bitfinex Recovery

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

Bitfinex Golem Network  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Golem Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
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.

Bitfinex Golem and Bitfinex Recovery Volatility Contrast

Bitfinex Golem Network Token U  vs.  Bitfinex Recovery Right Tokens

Bitfinex

Golem Network Token on Bitfinex in USD

 0.06 
(0.000254)  0.45%
Market Cap: 276
  

Bitfinex

Recovery Right Tokens on Bitfinex in USD

 0.03767 
0.00  0.00%
Market Cap: 224
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  3.77  in Bitfinex Recovery Right Tokens USD on August 17, 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 Bitfinex Golem and Bitfinex Recovery

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Golem and Bitfinex Recovery

Bitfinex Golem Network Token U diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Golem Network Token U 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 Bitfinex 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 Bitfinex 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 Bitfinex Golem i.e. Bitfinex Golem and Bitfinex Recovery go up and down completely randomly.
See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
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