This module allows you to analyze existing cross correlation between HitBTC Verge USD and Yobit Moneta USD. You can compare the effects of market volatilities on HitBTC Verge and Yobit Moneta 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 Moneta. See also your portfolio center
. Please also check ongoing floating volatility patterns of HitBTC Verge
and Yobit Moneta
HitBTC Verge USD vs Yobit Moneta USD
Assuming 30 trading days horizon, HitBTC Verge is expected to generate 11.33 times less return on investment than Yobit Moneta. But when comparing it to its historical volatility, HitBTC Verge USD is 5.0 times less risky than Yobit Moneta. It trades about 0.13 of its potential returns per unit of risk. Yobit Moneta USD is currently generating about 0.3 of returns per unit of risk over similar time horizon. If you would invest 0.09 in Yobit Moneta USD on December 19, 2017 and sell it today you would earn a total of 0.2 from holding Yobit Moneta USD or generate 227.68% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding HitBTC Verge USD and Yobit Moneta USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Moneta 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 Moneta. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Moneta USD has no effect on the direction of HitBTC Verge i.e. HitBTC Verge and Yobit Moneta 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 8 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Moneta USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.