This module allows you to analyze existing cross correlation between Bitfinex Recovery Right Tokens USD and Yobit CannabisCoin USD. You can compare the effects of market volatilities on Bitfinex Recovery and Yobit CannabisCoin 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 Bitfinex Recovery with a short position of Yobit CannabisCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Bitfinex Recovery
and Yobit CannabisCoin
Bitfinex Recovery Right Tokens vs Yobit CannabisCoin USD
Assuming 30 trading days horizon, Bitfinex Recovery is expected to generate 6.18 times less return on investment than Yobit CannabisCoin. But when comparing it to its historical volatility, Bitfinex Recovery Right Tokens USD is 3.56 times less risky than Yobit CannabisCoin. It trades about 0.08 of its potential returns per unit of risk. Yobit CannabisCoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 6.20 in Yobit CannabisCoin USD on February 21, 2018 and sell it today you would lose (2.20) from holding Yobit CannabisCoin USD or give up 35.48% 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 Bitfinex Recovery Right Tokens and Yobit CannabisCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit CannabisCoin USD and Bitfinex Recovery 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 Bitfinex Recovery Right Tokens USD are associated (or correlated) with Yobit CannabisCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit CannabisCoin USD has no effect on the direction of Bitfinex Recovery i.e. Bitfinex Recovery and Yobit CannabisCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex Recovery Right Tokens USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CannabisCoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.