This module allows you to analyze existing cross correlation between HitBTC Verge USD and Yobit Dogecoin USD. You can compare the effects of market volatilities on HitBTC Verge and Yobit Dogecoin 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 Verge with a short position of Yobit Dogecoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Verge
and Yobit Dogecoin
HitBTC Verge USD vs. Yobit Dogecoin USD
Assuming 30 trading days horizon, HitBTC Verge USD is expected to generate 1.92 times more return on investment than Yobit Dogecoin. However, HitBTC Verge is 1.92 times more volatile than Yobit Dogecoin USD. It trades about 0.07 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about -0.02 per unit of risk. If you would invest 6.42 in HitBTC Verge USD on March 24, 2018 and sell it today you would earn a total of 0.68 from holding HitBTC Verge USD or generate 10.54% return on investment over 30 days.
Pair Corralation between HitBTC Verge and Yobit Dogecoin
|Time Period||2 Months [change]|
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Verge USD and Yobit Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Dogecoin USD and HitBTC Verge 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 Verge USD are associated (or correlated) with Yobit Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Dogecoin USD has no effect on the direction of HitBTC Verge i.e. HitBTC Verge and Yobit Dogecoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Verge USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Yobit Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.