Correlation Analysis Between Yobit NEM and Bitfinex Golem

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

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

Yobit NEM and Bitfinex Golem Volatility Contrast

Yobit NEM USD  vs.  Bitfinex Golem Network Token U

Yobit

NEM on Yobit in USD

 0.04355 
0.00  0.00%
Market Cap: 38.0
  

Bitfinex

Golem Network Token on Bitfinex in USD

 0.06 
0.00  0.00%
Market Cap: 276
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  5.65  in Bitfinex Golem Network Token USD on August 18, 2019 and sell it today you would earn a total of  0.00  from holding Bitfinex Golem Network Token USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Yobit NEM and Bitfinex Golem

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

Diversification Opportunities for Yobit NEM and Bitfinex Golem

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 Golem Network Token U in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex Golem Network 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 Golem. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex Golem Network has no effect on the direction of Yobit NEM i.e. Yobit NEM and Bitfinex Golem go up and down completely randomly.
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