This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and Yobit BigUp USD. You can compare the effects of market volatilities on HitBTC ByteCoin and Yobit BigUp 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 HitBTC ByteCoin with a short position of Yobit BigUp. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ByteCoin
and Yobit BigUp
HitBTC ByteCoin USD vs Yobit BigUp USD
Assuming 30 trading days horizon, HitBTC ByteCoin is expected to generate 13.69 times less return on investment than Yobit BigUp. But when comparing it to its historical volatility, HitBTC ByteCoin USD is 7.9 times less risky than Yobit BigUp. It trades about 0.15 of its potential returns per unit of risk. Yobit BigUp USD is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest 0.02 in Yobit BigUp USD on December 19, 2017 and sell it today you would earn a total of 0.01 from holding Yobit BigUp USD or generate 85.9% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and Yobit BigUp USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit BigUp USD and HitBTC ByteCoin 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 HitBTC ByteCoin USD are associated (or correlated) with Yobit BigUp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit BigUp USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and Yobit BigUp go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin 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 BigUp USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.