This module allows you to analyze existing cross correlation between Yobit Influxcoin USD and Yobit Namecoin USD. You can compare the effects of market volatilities on Yobit Influxcoin and Yobit Namecoin 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 Influxcoin with a short position of Yobit Namecoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Influxcoin
and Yobit Namecoin
Over the last 30 days Yobit Influxcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Namecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Influxcoin and Yobit Namecoin Volatility Contrast
Yobit Influxcoin USD vs. Yobit Namecoin USD
Assuming 30 trading days horizon, Yobit Influxcoin USD is expected to under-perform the Yobit Namecoin. In addition to that, Yobit Influxcoin is 4.33 times more volatile than Yobit Namecoin USD. It trades about -0.58 of its total potential returns per unit of risk. Yobit Namecoin USD is currently generating about -0.02 per unit of volatility. If you would invest 62.57 in Yobit Namecoin USD on November 18, 2018 and sell it today you would lose (12.57) from holding Yobit Namecoin USD or give up 20.09% of portfolio value over 30 days.
Pair Corralation between Yobit Influxcoin and Yobit Namecoin
|Time Period||2 Months [change]|
Diversification Opportunities for Yobit Influxcoin and Yobit Namecoin
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Influxcoin USD and Yobit Namecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Namecoin USD and Yobit Influxcoin 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 Influxcoin USD are associated (or correlated) with Yobit Namecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Namecoin USD has no effect on the direction of Yobit Influxcoin i.e. Yobit Influxcoin and Yobit Namecoin go up and down completely randomly.