This module allows you to analyze existing cross correlation between Yobit PandaCoin USD and Yobit ReturnBit USD. You can compare the effects of market volatilities on Yobit PandaCoin and Yobit ReturnBit 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 PandaCoin with a short position of Yobit ReturnBit. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit PandaCoin
and Yobit ReturnBit
Yobit PandaCoin USD vs Yobit ReturnBit USD
Assuming 30 trading days horizon, Yobit PandaCoin is expected to generate 1.25 times less return on investment than Yobit ReturnBit. But when comparing it to its historical volatility, Yobit PandaCoin USD is 1.88 times less risky than Yobit ReturnBit. It trades about 0.26 of its potential returns per unit of risk. Yobit ReturnBit USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 1.22 in Yobit ReturnBit USD on December 17, 2017 and sell it today you would lose (1.1) from holding Yobit ReturnBit USD or give up 90.4% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit PandaCoin USD and Yobit ReturnBit USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit ReturnBit USD and Yobit PandaCoin 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 PandaCoin USD are associated (or correlated) with Yobit ReturnBit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit ReturnBit USD has no effect on the direction of Yobit PandaCoin i.e. Yobit PandaCoin and Yobit ReturnBit go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PandaCoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ReturnBit USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.