This module allows you to analyze existing cross correlation between Yobit BitstarCoin USD and HitBTC NEM USD. You can compare the effects of market volatilities on Yobit BitstarCoin and HitBTC NEM 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 BitstarCoin with a short position of HitBTC NEM. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit BitstarCoin and HitBTC NEM.
Assuming 30 trading days horizon, Yobit BitstarCoin USD is expected to generate 4.49 times more return on investment than HitBTC NEM. However, Yobit BitstarCoin is 4.49 times more volatile than HitBTC NEM USD. It trades about 0.11 of its potential returns per unit of risk. HitBTC NEM USD is currently generating about 0.01 per unit of risk. If you would invest 3.18 in Yobit BitstarCoin USD on March 22, 2018 and sell it today you would earn a total of 0.12 from holding Yobit BitstarCoin USD or generate 3.9% return on investment over 30 days.
Pair Corralation between Yobit BitstarCoin and HitBTC NEM
Overlapping area represents the amount of risk that can be diversified away by holding Yobit BitstarCoin USD and HitBTC NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC NEM USD and Yobit BitstarCoin 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 BitstarCoin USD are associated (or correlated) with HitBTC NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC NEM USD has no effect on the direction of Yobit BitstarCoin i.e. Yobit BitstarCoin and HitBTC NEM go up and down completely randomly.
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