This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and Yobit Bitcoin USD. You can compare the effects of market volatilities on Coinbase Bitcoin and Yobit Bitcoin 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 Coinbase Bitcoin with a short position of Yobit Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinbase Bitcoin
and Yobit Bitcoin
Coinbase Bitcoin USD vs. Yobit Bitcoin USD
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 1.49 times more return on investment than Yobit Bitcoin. However, Coinbase Bitcoin is 1.49 times more volatile than Yobit Bitcoin USD. It trades about 0.22 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about 0.27 per unit of risk. If you would invest 599,895 in Coinbase Bitcoin USD on June 21, 2018 and sell it today you would earn a total of 128,150 from holding Coinbase Bitcoin USD or generate 21.36% return on investment over 30 days.
Pair Corralation between Coinbase Bitcoin and Yobit Bitcoin
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and Yobit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Bitcoin USD and Coinbase Bitcoin 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 Coinbase Bitcoin USD are associated (or correlated) with Yobit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Bitcoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Yobit Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.
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