This module allows you to analyze existing cross correlation between Yobit Carboncoin USD and Yobit TekCoin USD. You can compare the effects of market volatilities on Yobit Carboncoin and Yobit TekCoin 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 Carboncoin with a short position of Yobit TekCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Carboncoin
and Yobit TekCoin
Yobit Carboncoin USD vs Yobit TekCoin USD
Assuming 30 trading days horizon, Yobit Carboncoin is expected to generate 2.02 times less return on investment than Yobit TekCoin. But when comparing it to its historical volatility, Yobit Carboncoin USD is 3.13 times less risky than Yobit TekCoin. It trades about 0.31 of its potential returns per unit of risk. Yobit TekCoin USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 0.01 in Yobit TekCoin USD on December 18, 2017 and sell it today you would earn a total of 0.02 from holding Yobit TekCoin USD or generate 193.75% return on investment over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Carboncoin USD and Yobit TekCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit TekCoin USD and Yobit Carboncoin 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 Carboncoin USD are associated (or correlated) with Yobit TekCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit TekCoin USD has no effect on the direction of Yobit Carboncoin i.e. Yobit Carboncoin and Yobit TekCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Carboncoin USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit TekCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.