This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Yobit Waves USD. You can compare the effects of market volatilities on Cexio Ethereum and Yobit Waves 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 Waves. See also your portfolio center
. Please also check ongoing floating volatility patterns of Cexio Ethereum
and Yobit Waves
Over the last 30 days Cexio Ethereum 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 Waves USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Cexio Ethereum and Yobit Waves Volatility Contrast
Cexio Ethereum USD vs. Yobit Waves USD
Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the Yobit Waves. But the crypto apears to be less risky and, when comparing its historical volatility, Cexio Ethereum USD is 2.04 times less risky than Yobit Waves. The crypto trades about -0.37 of its potential returns per unit of risk. The Yobit Waves USD is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 210.00 in Yobit Waves USD on November 16, 2018 and sell it today you would earn a total of 48.00 from holding Yobit Waves USD or generate 22.86% return on investment over 30 days.
Pair Corralation between Cexio Ethereum and Yobit Waves
|Time Period||2 Months [change]|
Diversification Opportunities for Cexio Ethereum and Yobit Waves
Overlapping area represents the amount of risk that can be diversified away by holding Cexio Ethereum USD and Yobit Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Waves 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 Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Waves USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and Yobit Waves go up and down completely randomly.
See also your portfolio center
. Please also try My Watchlist Analysis
module to analyze my current watchlist and to refresh optimization strategy. macroaxis watchlist is based on self-learning algorithm to remember stocks you like.