This module allows you to analyze existing cross correlation between HitBTC DigitalNote USD and Yobit Gram Coin USD. You can compare the effects of market volatilities on HitBTC DigitalNote and Yobit Gram 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 DigitalNote with a short position of Yobit Gram. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC DigitalNote
and Yobit Gram
HitBTC DigitalNote USD vs Yobit Gram Coin USD
Assuming 30 trading days horizon, HitBTC DigitalNote USD is expected to under-perform the Yobit Gram. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC DigitalNote USD is 2.03 times less risky than Yobit Gram. The crypto trades about -0.4 of its potential returns per unit of risk. The Yobit Gram Coin USD is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest 1.49 in Yobit Gram Coin USD on February 15, 2018 and sell it today you would lose (0.62) from holding Yobit Gram Coin USD or give up 41.69% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC DigitalNote USD and Yobit Gram Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Gram Coin and HitBTC DigitalNote 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 DigitalNote USD are associated (or correlated) with Yobit Gram. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Gram Coin has no effect on the direction of HitBTC DigitalNote i.e. HitBTC DigitalNote and Yobit Gram go up and down completely randomly.
Over the last 30 days HitBTC DigitalNote USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Gram Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.