This module allows you to analyze existing cross correlation between HitBTC Stratis USD and Yobit Positron USD. You can compare the effects of market volatilities on HitBTC Stratis and Yobit Positron 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 Positron. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Stratis
and Yobit Positron
HitBTC Stratis USD vs Yobit Positron USD
Assuming 30 trading days horizon, HitBTC Stratis is expected to generate 38.19 times less return on investment than Yobit Positron. But when comparing it to its historical volatility, HitBTC Stratis USD is 2.23 times less risky than Yobit Positron. It trades about 0.01 of its potential returns per unit of risk. Yobit Positron USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 600 in Yobit Positron USD on December 25, 2017 and sell it today you would earn a total of 600 from holding Yobit Positron USD or generate 100.0% 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 Stratis USD and Yobit Positron USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Positron 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 Positron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Positron USD has no effect on the direction of HitBTC Stratis i.e. HitBTC Stratis and Yobit Positron go up and down completely randomly.
Over the last 30 days HitBTC Stratis USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Positron USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.