Coinbase Bitcoin USD vs. Yobit SpaceCoin USD
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to under-perform the Yobit SpaceCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Coinbase Bitcoin USD is 11.29 times less risky than Yobit SpaceCoin. The crypto trades about -0.12 of its potential returns per unit of risk. The Yobit SpaceCoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 0.46 in Yobit SpaceCoin USD on May 23, 2018 and sell it today you would lose (0.01) from holding Yobit SpaceCoin USD or give up 2.34% of portfolio value over 30 days.
Pair Corralation between Coinbase Bitcoin and Yobit SpaceCoin
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and Yobit SpaceCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit SpaceCoin 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 SpaceCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit SpaceCoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Yobit SpaceCoin go up and down completely randomly.
Over the last 30 days Coinbase Bitcoin 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 SpaceCoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
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