This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Yobit CometCoin USD. You can compare the effects of market volatilities on Cexio Ethereum and Yobit CometCoin 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 Cexio Ethereum with a short position of Yobit CometCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Cexio Ethereum
and Yobit CometCoin
Cexio Ethereum USD vs Yobit CometCoin USD
Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 47.01 times less return on investment than Yobit CometCoin. But when comparing it to its historical volatility, Cexio Ethereum USD is 25.46 times less risky than Yobit CometCoin. It trades about 0.14 of its potential returns per unit of risk. Yobit CometCoin USD is currently generating about 0.27 of returns per unit of risk over similar time horizon. If you would invest 13.5 in Yobit CometCoin USD on December 22, 2017 and sell it today you would earn a total of 16.5 from holding Yobit CometCoin USD or generate 122.22% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Cexio Ethereum USD and Yobit CometCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit CometCoin USD and Cexio 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 Cexio Ethereum USD are associated (or correlated) with Yobit CometCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit CometCoin USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and Yobit CometCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Cexio Ethereum USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CometCoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.