This module allows you to analyze existing cross correlation between Yobit Ethereum USD and OKCoin Ethereum USD. You can compare the effects of market volatilities on Yobit Ethereum and OKCoin Ethereum 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 Ethereum with a short position of OKCoin Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Ethereum and OKCoin Ethereum.
|Horizon||30 Days Login to change|
|Yobit Ethereum USD|
Over the last 30 days Yobit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in September 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
|OKCoin Ethereum USD|
Over the last 30 days OKCoin Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
Yobit Ethereum and OKCoin Ethereum Volatility Contrast
Predicted Return Density
Yobit Ethereum USD vs. OKCoin Ethereum USD
Assuming 30 trading days horizon, Yobit Ethereum USD is expected to under-perform the OKCoin Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum USD is 1.19 times less risky than OKCoin Ethereum. The crypto trades about -0.18 of its potential returns per unit of risk. The OKCoin Ethereum USD is currently generating about -0.12 of returns per unit of risk over similar time horizon. If you would invest 30,495 in OKCoin Ethereum USD on July 21, 2019 and sell it today you would lose (10,556) from holding OKCoin Ethereum USD or give up 34.62% of portfolio value over 30 days.
Pair Corralation between Yobit Ethereum and OKCoin Ethereum
|Time Period||2 Months [change]|
Diversification Opportunities for Yobit Ethereum and OKCoin Ethereum
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ethereum USD and OKCoin Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on OKCoin Ethereum USD and Yobit Ethereum 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 Ethereum USD are associated (or correlated) with OKCoin Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of OKCoin Ethereum USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and OKCoin Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.