This module allows you to analyze existing cross correlation between Yobit Bitcoin USD and itBit Bitcoin USD. You can compare the effects of market volatilities on Yobit Bitcoin and itBit 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 itBit Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Bitcoin
and itBit Bitcoin
Yobit Bitcoin USD vs. itBit Bitcoin USD
Assuming 30 trading days horizon, Yobit Bitcoin is expected to generate 1.23 times less return on investment than itBit Bitcoin. But when comparing it to its historical volatility, Yobit Bitcoin USD is 1.45 times less risky than itBit Bitcoin. It trades about 0.27 of its potential returns per unit of risk. itBit Bitcoin USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 598,172 in itBit Bitcoin USD on June 21, 2018 and sell it today you would earn a total of 130,736 from holding itBit Bitcoin USD or generate 21.86% return on investment over 30 days.
Pair Corralation between Yobit Bitcoin and itBit Bitcoin
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitcoin USD and itBit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on itBit 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 itBit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of itBit Bitcoin USD has no effect on the direction of Yobit Bitcoin i.e. Yobit Bitcoin and itBit 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 17 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in itBit Bitcoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.
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