This module allows you to analyze existing cross correlation between HitBTC Bancor Network Token USD and Yobit ReddCoin USD. You can compare the effects of market volatilities on HitBTC Bancor and Yobit ReddCoin 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 ReddCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Bancor
and Yobit ReddCoin
HitBTC Bancor Network Token US vs Yobit ReddCoin USD
Assuming 30 trading days horizon, HitBTC Bancor Network Token USD is expected to generate 0.65 times more return on investment than Yobit ReddCoin. However, HitBTC Bancor Network Token USD is 1.54 times less risky than Yobit ReddCoin. It trades about 0.38 of its potential returns per unit of risk. Yobit ReddCoin USD is currently generating about 0.19 per unit of risk. If you would invest 192 in HitBTC Bancor Network Token USD on November 15, 2017 and sell it today you would earn a total of 176 from holding HitBTC Bancor Network Token USD or generate 91.67% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Bancor Network Token US and Yobit ReddCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit ReddCoin 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 ReddCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit ReddCoin USD has no effect on the direction of HitBTC Bancor i.e. HitBTC Bancor and Yobit ReddCoin 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 24 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ReddCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.