This module allows you to analyze existing cross correlation between HitBTC Stratis USD and Yobit Rise USD. You can compare the effects of market volatilities on HitBTC Stratis and Yobit Rise 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 Stratis with a short position of Yobit Rise. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Stratis
and Yobit Rise
HitBTC Stratis USD vs Yobit Rise USD
Assuming 30 trading days horizon, HitBTC Stratis is expected to generate 3.11 times less return on investment than Yobit Rise. But when comparing it to its historical volatility, HitBTC Stratis USD is 2.58 times less risky than Yobit Rise. It trades about 0.18 of its potential returns per unit of risk. Yobit Rise USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 46.1 in Yobit Rise USD on December 21, 2017 and sell it today you would earn a total of 64.9 from holding Yobit Rise USD or generate 140.78% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Stratis USD and Yobit Rise USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Rise USD and HitBTC Stratis 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 Stratis USD are associated (or correlated) with Yobit Rise. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Rise USD has no effect on the direction of HitBTC Stratis i.e. HitBTC Stratis and Yobit Rise go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Stratis USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rise USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.