This module allows you to analyze existing cross correlation between Yobit BigUp USD and HitBTC PeerCoin USD. You can compare the effects of market volatilities on Yobit BigUp and HitBTC PeerCoin 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 Yobit BigUp with a short position of HitBTC PeerCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BigUp
and HitBTC PeerCoin
Yobit BigUp USD vs HitBTC PeerCoin USD
Assuming 30 trading days horizon, Yobit BigUp USD is expected to generate 12.68 times more return on investment than HitBTC PeerCoin. However, Yobit BigUp is 12.68 times more volatile than HitBTC PeerCoin USD. It trades about 0.26 of its potential returns per unit of risk. HitBTC PeerCoin USD is currently generating about 0.09 per unit of risk. 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]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit BigUp USD and HitBTC PeerCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC PeerCoin USD and Yobit BigUp 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 Yobit BigUp USD are associated (or correlated) with HitBTC PeerCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC PeerCoin USD has no effect on the direction of Yobit BigUp i.e. Yobit BigUp and HitBTC PeerCoin go up and down completely randomly.
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.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC PeerCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.