This module allows you to analyze existing cross correlation between Yobit Golem Network Token USD and Coinbase Bitcoin USD. You can compare the effects of market volatilities on Yobit Golem and Coinbase 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 Golem with a short position of Coinbase Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Golem
and Coinbase Bitcoin
Yobit Golem Network Token USD vs Coinbase Bitcoin USD
Assuming 30 trading days horizon, Yobit Golem Network Token USD is expected to generate 1.79 times more return on investment than Coinbase Bitcoin. However, Yobit Golem is 1.79 times more volatile than Coinbase Bitcoin USD. It trades about 0.14 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.06 per unit of risk. If you would invest 60 in Yobit Golem Network Token USD on December 22, 2017 and sell it today you would earn a total of 21 from holding Yobit Golem Network Token USD or generate 35.0% 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 Golem Network Token USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin USD and Yobit Golem 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 Golem Network Token USD are associated (or correlated) with Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of Yobit Golem i.e. Yobit Golem and Coinbase Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Golem Network Token USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.