This module allows you to analyze existing cross correlation between Yobit MaxCoin USD and Yobit Ratecoin USD. You can compare the effects of market volatilities on Yobit MaxCoin and Yobit Ratecoin 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 MaxCoin with a short position of Yobit Ratecoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit MaxCoin
and Yobit Ratecoin
Yobit MaxCoin USD vs Yobit Ratecoin USD
Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to under-perform the Yobit Ratecoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit MaxCoin USD is 2.67 times less risky than Yobit Ratecoin. The crypto trades about -0.01 of its potential returns per unit of risk. The Yobit Ratecoin USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 0.96 in Yobit Ratecoin USD on February 16, 2018 and sell it today you would lose (0.65) from holding Yobit Ratecoin USD or give up 68.13% of portfolio value 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 MaxCoin USD and Yobit Ratecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Ratecoin USD and Yobit MaxCoin 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 MaxCoin USD are associated (or correlated) with Yobit Ratecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Ratecoin USD has no effect on the direction of Yobit MaxCoin i.e. Yobit MaxCoin and Yobit Ratecoin go up and down completely randomly.
Over the last 30 days Yobit MaxCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Ratecoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.