This module allows you to analyze existing cross correlation between Yobit SkullBuzz USD and HitBTC Autumncoin USD. You can compare the effects of market volatilities on Yobit SkullBuzz and HitBTC Autumncoin 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 SkullBuzz with a short position of HitBTC Autumncoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit SkullBuzz
and HitBTC Autumncoin
Yobit SkullBuzz USD vs HitBTC Autumncoin USD
Assuming 30 trading days horizon, Yobit SkullBuzz USD is expected to under-perform the HitBTC Autumncoin. In addition to that, Yobit SkullBuzz is 1.26 times more volatile than HitBTC Autumncoin USD. It trades about 0.0 of its total potential returns per unit of risk. HitBTC Autumncoin USD is currently generating about 0.12 per unit of volatility. If you would invest 1.68 in HitBTC Autumncoin USD on December 19, 2017 and sell it today you would earn a total of 0.23 from holding HitBTC Autumncoin USD or generate 13.69% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit SkullBuzz USD and HitBTC Autumncoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Autumncoin USD and Yobit SkullBuzz 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 SkullBuzz USD are associated (or correlated) with HitBTC Autumncoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Autumncoin USD has no effect on the direction of Yobit SkullBuzz i.e. Yobit SkullBuzz and HitBTC Autumncoin go up and down completely randomly.
Over the last 30 days Yobit SkullBuzz 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 HitBTC Autumncoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.