This module allows you to analyze existing cross correlation between Yobit BuzzCoin USD and HitBTC DigiByte USD. You can compare the effects of market volatilities on Yobit BuzzCoin and HitBTC DigiByte 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 BuzzCoin with a short position of HitBTC DigiByte. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BuzzCoin
and HitBTC DigiByte
Yobit BuzzCoin USD vs HitBTC DigiByte USD
Assuming 30 trading days horizon, Yobit BuzzCoin USD is expected to generate 1.93 times more return on investment than HitBTC DigiByte. However, Yobit BuzzCoin is 1.93 times more volatile than HitBTC DigiByte USD. It trades about 0.26 of its potential returns per unit of risk. HitBTC DigiByte USD is currently generating about 0.15 per unit of risk. If you would invest 0.03 in Yobit BuzzCoin USD on December 22, 2017 and sell it today you would earn a total of 0.09 from holding Yobit BuzzCoin USD or generate 262.28% 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 BuzzCoin USD and HitBTC DigiByte USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigiByte USD and Yobit BuzzCoin 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 BuzzCoin USD are associated (or correlated) with HitBTC DigiByte. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigiByte USD has no effect on the direction of Yobit BuzzCoin i.e. Yobit BuzzCoin and HitBTC DigiByte go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BuzzCoin 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 DigiByte USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.