This module allows you to analyze existing cross correlation between Coinbase Bitcoin USD and Yobit Vertcoin USD. You can compare the effects of market volatilities on Coinbase Bitcoin and Yobit Vertcoin 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 Vertcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Coinbase Bitcoin and Yobit Vertcoin.
Assuming 30 trading days horizon, Coinbase Bitcoin is expected to generate 1.17 times less return on investment than Yobit Vertcoin. But when comparing it to its historical volatility, Coinbase Bitcoin USD is 3.74 times less risky than Yobit Vertcoin. It trades about 0.25 of its potential returns per unit of risk. Yobit Vertcoin USD is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 90.00 in Yobit Vertcoin USD on June 23, 2018 and sell it today you would earn a total of 1.09 from holding Yobit Vertcoin USD or generate 1.21% return on investment over 30 days.
Pair Corralation between Coinbase Bitcoin and Yobit Vertcoin
Overlapping area represents the amount of risk that can be diversified away by holding Coinbase Bitcoin USD and Yobit Vertcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Vertcoin 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 Vertcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Vertcoin USD has no effect on the direction of Coinbase Bitcoin i.e. Coinbase Bitcoin and Yobit Vertcoin go up and down completely randomly.
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