BitTrex Ethereum Classic USD vs. Yobit Rimbit USD
Assuming 30 trading days horizon, BitTrex Ethereum Classic USD is expected to under-perform the Yobit Rimbit. But the crypto apears to be less risky and, when comparing its historical volatility, BitTrex Ethereum Classic USD is 6.27 times less risky than Yobit Rimbit. The crypto trades about -0.01 of its potential returns per unit of risk. The Yobit Rimbit USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 0.11 in Yobit Rimbit USD on May 21, 2018 and sell it today you would earn a total of 0.08 from holding Yobit Rimbit USD or generate 75.54% return on investment over 30 days.
Pair Corralation between BitTrex Ethereum and Yobit Rimbit
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum Classic USD and Yobit Rimbit USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Rimbit USD and BitTrex Ethereum 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 BitTrex Ethereum Classic USD are associated (or correlated) with Yobit Rimbit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Rimbit USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and Yobit Rimbit go up and down completely randomly.
Over the last 30 days BitTrex Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
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