This module allows you to analyze existing cross correlation between Cexio Ethereum USD and Yobit Namecoin USD. You can compare the effects of market volatilities on Cexio Ethereum and Yobit Namecoin 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 Cexio Ethereum with a short position of Yobit Namecoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Cexio Ethereum and Yobit Namecoin.
Assuming 30 trading days horizon, Cexio Ethereum is expected to generate 2.37 times less return on investment than Yobit Namecoin. But when comparing it to its historical volatility, Cexio Ethereum USD is 3.09 times less risky than Yobit Namecoin. It trades about 0.06 of its potential returns per unit of risk. Yobit Namecoin USD is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 121.00 in Yobit Namecoin USD on June 23, 2018 and sell it today you would lose (9.00) from holding Yobit Namecoin USD or give up 7.44% of portfolio value over 30 days.
Pair Corralation between Cexio Ethereum and Yobit Namecoin
Overlapping area represents the amount of risk that can be diversified away by holding Cexio Ethereum USD and Yobit Namecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Namecoin USD and Cexio Ethereum 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 Cexio Ethereum USD are associated (or correlated) with Yobit Namecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Namecoin USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and Yobit Namecoin go up and down completely randomly.
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