This module allows you to analyze existing cross correlation between Yobit Bitcoin USD and BitTrex Bitcoin USD. You can compare the effects of market volatilities on Yobit Bitcoin and BitTrex Bitcoin 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 Bitcoin with a short position of BitTrex Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Bitcoin
and BitTrex Bitcoin
Yobit Bitcoin USD vs BitTrex Bitcoin USD
Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to generate 1.35 times more return on investment than BitTrex Bitcoin. However, Yobit Bitcoin is 1.35 times more volatile than BitTrex Bitcoin USD. It trades about 0.36 of its potential returns per unit of risk. BitTrex Bitcoin USD is currently generating about 0.48 per unit of risk. If you would invest 777,778 in Yobit Bitcoin USD on November 15, 2017 and sell it today you would earn a total of 949,122 from holding Yobit Bitcoin USD or generate 122.03% return on investment over 30 days.
|Time Period||1 Month [change]|
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitcoin USD and BitTrex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Bitcoin USD and Yobit 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 Yobit Bitcoin USD are associated (or correlated) with BitTrex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Bitcoin USD has no effect on the direction of Yobit Bitcoin i.e. Yobit Bitcoin and BitTrex Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcoin USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in BitTrex Bitcoin USD are ranked lower than 31 (%) of all global equities and portfolios over the last 30 days.