This module allows you to analyze existing cross correlation between Yobit Reddcoin USD and Yobit Decred USD. You can compare the effects of market volatilities on Yobit Reddcoin and Yobit Decred 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 Reddcoin with a short position of Yobit Decred. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Reddcoin and Yobit Decred.
Assuming 30 trading days horizon, Yobit Reddcoin USD is expected to under-perform the Yobit Decred. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Reddcoin USD is 1.15 times less risky than Yobit Decred. The crypto trades about -0.02 of its potential returns per unit of risk. The Yobit Decred USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 7,100 in Yobit Decred USD on March 26, 2018 and sell it today you would earn a total of 1,400 from holding Yobit Decred USD or generate 19.72% return on investment over 30 days.
Pair Corralation between Yobit Reddcoin and Yobit Decred
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Reddcoin USD and Yobit Decred USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Decred USD and Yobit Reddcoin 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 Reddcoin USD are associated (or correlated) with Yobit Decred. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Decred USD has no effect on the direction of Yobit Reddcoin i.e. Yobit Reddcoin and Yobit Decred go up and down completely randomly.
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