This module allows you to analyze existing cross correlation between HitBTC Bancor Network Token USD and Yobit PrismChain USD. You can compare the effects of market volatilities on HitBTC Bancor and Yobit PrismChain 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 PrismChain. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC Bancor and Yobit PrismChain.
HitBTC Bancor Network Token US vs. Yobit PrismChain USD
Bancor Network Token on HitBTC in USD
Market Cap: 1.4 M
PrismChain on Yobit in USD
Market Cap: 0
Assuming 30 trading days horizon, HitBTC Bancor is expected to generate 3.4 times less return on investment than Yobit PrismChain. But when comparing it to its historical volatility, HitBTC Bancor Network Token USD is 5.1 times less risky than Yobit PrismChain. It trades about 0.16 of its potential returns per unit of risk. Yobit PrismChain USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 0.12 in Yobit PrismChain USD on April 20, 2018 and sell it today you would earn a total of 0.00 from holding Yobit PrismChain USD or generate 0.0% return on investment over 30 days.
Pair Corralation between HitBTC Bancor and Yobit PrismChain
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US and Yobit PrismChain USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit PrismChain 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 PrismChain. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit PrismChain USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and Yobit PrismChain 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 10 (%) of all global equities and portfolios over the last 30 days.
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