This module allows you to analyze existing cross correlation between HitBTC Verge USD and Yobit iBankCoin USD. You can compare the effects of market volatilities on HitBTC Verge and Yobit iBankCoin 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 iBankCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Verge
and Yobit iBankCoin
HitBTC Verge USD vs Yobit iBankCoin USD
Assuming 30 trading days horizon, HitBTC Verge USD is expected to generate 0.42 times more return on investment than Yobit iBankCoin. However, HitBTC Verge USD is 2.37 times less risky than Yobit iBankCoin. It trades about -0.27 of its potential returns per unit of risk. Yobit iBankCoin USD is currently generating about -0.11 per unit of risk. If you would invest 7.59 in HitBTC Verge USD on February 19, 2018 and sell it today you would lose (3.94) from holding HitBTC Verge USD or give up 51.94% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Verge USD and Yobit iBankCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit iBankCoin 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 iBankCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit iBankCoin USD has no effect on the direction of HitBTC Verge i.e. HitBTC Verge and Yobit iBankCoin go up and down completely randomly.
Over the last 30 days HitBTC Verge USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit iBankCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.