This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and Yobit Gamecredits USD. You can compare the effects of market volatilities on Coinbase Bitcoin and Yobit Gamecredits 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 Gamecredits. See also your portfolio center
. Please also check ongoing floating volatility patterns of Coinbase Bitcoin
and Yobit Gamecredits
Coinbase Bitcoin USD vs Yobit Gamecredits USD
Assuming 30 trading days horizon, Coinbase Bitcoin USD is expected to generate 0.27 times more return on investment than Yobit Gamecredits. However, Coinbase Bitcoin USD is 3.64 times less risky than Yobit Gamecredits. It trades about -0.1 of its potential returns per unit of risk. Yobit Gamecredits USD is currently generating about -0.09 per unit of risk. If you would invest 1,109,572 in Coinbase Bitcoin USD on February 18, 2018 and sell it today you would lose (215,971) from holding Coinbase Bitcoin USD or give up 19.46% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and Yobit Gamecredits USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Gamecredits 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 Gamecredits. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Gamecredits USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Yobit Gamecredits go up and down completely randomly.
Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Gamecredits USD has generated negative risk-adjusted returns adding no value to investors with long positions.