This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and Yobit Bitcloud USD. You can compare the effects of market volatilities on HitBTC ByteCoin and Yobit Bitcloud 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 HitBTC ByteCoin with a short position of Yobit Bitcloud. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC ByteCoin and Yobit Bitcloud.
Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to generate 1.35 times more return on investment than Yobit Bitcloud. However, HitBTC ByteCoin is 1.35 times more volatile than Yobit Bitcloud USD. It trades about 0.17 of its potential returns per unit of risk. Yobit Bitcloud USD is currently generating about 0.05 per unit of risk. If you would invest 0.51 in HitBTC ByteCoin USD on April 22, 2018 and sell it today you would earn a total of 0.35 from holding HitBTC ByteCoin USD or generate 68.0% return on investment over 30 days.
Pair Corralation between HitBTC ByteCoin and Yobit Bitcloud
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and Yobit Bitcloud USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Bitcloud USD and HitBTC ByteCoin 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 HitBTC ByteCoin USD are associated (or correlated) with Yobit Bitcloud. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Bitcloud USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and Yobit Bitcloud go up and down completely randomly.
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