This module allows you to analyze existing cross correlation between HitBTC Bancor Network Token USD and Yobit BitCrystal USD. You can compare the effects of market volatilities on HitBTC Bancor and Yobit BitCrystal 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 Bancor with a short position of Yobit BitCrystal. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Bancor
and Yobit BitCrystal
HitBTC Bancor Network Token US vs Yobit BitCrystal USD
Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 14.44 times less return on investment than Yobit BitCrystal. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 18.99 times less risky than Yobit BitCrystal. It trades about 0.28 of its potential returns per unit of risk. Yobit BitCrystal USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 0.1 in Yobit BitCrystal USD on November 11, 2017 and sell it today you would lose (0.06) from holding Yobit BitCrystal USD or give up 56.98% 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 Bancor Network Token US and Yobit BitCrystal USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit BitCrystal USD and HitBTC Bancor 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 Bancor Network Token USD are associated (or correlated) with Yobit BitCrystal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit BitCrystal USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and Yobit BitCrystal go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Bancor Network Token USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCrystal USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.