This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and Yobit LiviaCoin USD. You can compare the effects of market volatilities on HitBTC ByteCoin and Yobit LiviaCoin 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 LiviaCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC ByteCoin
and Yobit LiviaCoin
HitBTC ByteCoin USD vs Yobit LiviaCoin USD
Assuming 30 trading days horizon, HitBTC ByteCoin is expected to generate 16.73 times less return on investment than Yobit LiviaCoin. But when comparing it to its historical volatility, HitBTC ByteCoin USD is 38.01 times less risky than Yobit LiviaCoin. It trades about 0.52 of its potential returns per unit of risk. Yobit LiviaCoin USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 0.02 in Yobit LiviaCoin USD on November 16, 2017 and sell it today you would lose 0.00 from holding Yobit LiviaCoin USD or give up 17.89% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and Yobit LiviaCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit LiviaCoin 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 LiviaCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit LiviaCoin USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and Yobit LiviaCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ByteCoin USD are ranked lower than 34 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit LiviaCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.