This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and Yobit 2BACCO Coin USD. You can compare the effects of market volatilities on Coinbase Bitcoin and Yobit 2BACCO 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 Coinbase Bitcoin with a short position of Yobit 2BACCO. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinbase Bitcoin
and Yobit 2BACCO
Coinbase Bitcoin USD vs Yobit 2BACCO Coin USD
Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 9.9745558369343E12 times less return on investment than Yobit 2BACCO. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 2.006402463351109E13 times less risky than Yobit 2BACCO. It trades about 0.39 of its potential returns per unit of risk. Yobit 2BACCO Coin USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 0.00 in Yobit 2BACCO Coin USD on November 12, 2017 and sell it today you would earn a total of 0.15 from holding Yobit 2BACCO Coin USD or generate 9.223372036854776E16% return on investment 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 Coinbase Bitcoin USD and Yobit 2BACCO Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit 2BACCO Coin and Coinbase Bitcoin 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 Coinbase Bitcoin USD are associated (or correlated) with Yobit 2BACCO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit 2BACCO Coin has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Yobit 2BACCO go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 25 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit 2BACCO Coin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.