This module allows you to analyze existing cross correlation between BitTrex Ethereum USD and Yobit Ethereum USD. You can compare the effects of market volatilities on BitTrex Ethereum and Yobit Ethereum 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 BitTrex Ethereum with a short position of Yobit Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of BitTrex Ethereum and Yobit Ethereum.
|Horizon||30 Days Login to change|
|BitTrex Ethereum USD|
Over the last 30 days BitTrex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite weak performance in the last few months, the Crypto's basic indicators remain fairly strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
|Yobit Ethereum USD|
Over the last 30 days Yobit Ethereum 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 September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
BitTrex Ethereum and Yobit Ethereum Volatility Contrast
Predicted Return Density
BitTrex Ethereum USD vs. Yobit Ethereum USD
Assuming 30 trading days horizon, BitTrex Ethereum USD is expected to generate 1.21 times more return on investment than Yobit Ethereum. However, BitTrex Ethereum is 1.21 times more volatile than Yobit Ethereum USD. It trades about -0.16 of its potential returns per unit of risk. Yobit Ethereum USD is currently generating about -0.2 per unit of risk. If you would invest 32,200 in BitTrex Ethereum USD on July 25, 2019 and sell it today you would lose (13,304) from holding BitTrex Ethereum USD or give up 41.32% of portfolio value over 30 days.
Pair Corralation between BitTrex Ethereum and Yobit Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for BitTrex Ethereum and Yobit Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding BitTrex Ethereum USD and Yobit Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Ethereum 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 USD are associated (or correlated) with Yobit Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Ethereum USD has no effect on the direction of BitTrex Ethereum i.e. BitTrex Ethereum and Yobit Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.