This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and Yobit Digigems USD. You can compare the effects of market volatilities on Coinbase Bitcoin and Yobit Digigems 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 Digigems. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinbase Bitcoin
and Yobit Digigems
Coinbase Bitcoin USD vs Yobit Digigems USD
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.44 times more return on investment than Yobit Digigems. However, Coinbase Bitcoin USD is 2.29 times less risky than Yobit Digigems. It trades about 0.38 of its potential returns per unit of risk. Yobit Digigems USD is currently generating about 0.09 per unit of risk. If you would invest 771,399 in Coinbase Bitcoin USD on November 16, 2017 and sell it today you would earn a total of 1,170,851 from holding Coinbase Bitcoin USD or generate 151.78% 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 Digigems USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Digigems USD 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 Digigems. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Digigems USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Yobit Digigems 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 24 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Digigems USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.