This module allows you to analyze existing cross correlation between HitBTC NEM USD and Yobit Positron USD. You can compare the effects of market volatilities on HitBTC NEM and Yobit Positron 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 NEM with a short position of Yobit Positron. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC NEM
and Yobit Positron
HitBTC NEM USD vs Yobit Positron USD
Assuming 30 trading days horizon, HitBTC NEM is expected to generate 16.06 times less return on investment than Yobit Positron. But when comparing it to its historical volatility, HitBTC NEM USD is 8.06 times less risky than Yobit Positron. It trades about 0.09 of its potential returns per unit of risk. Yobit Positron USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 4,200 in Yobit Positron USD on December 20, 2017 and sell it today you would lose (3,167) from holding Yobit Positron USD or give up 75.4% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC NEM USD and Yobit Positron USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Positron USD and HitBTC NEM 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 NEM USD are associated (or correlated) with Yobit Positron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Positron USD has no effect on the direction of HitBTC NEM i.e. HitBTC NEM and Yobit Positron go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC NEM USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Positron USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.