This module allows you to analyze existing cross correlation between Kraken Augur USD and Yobit Universal Currency USD. You can compare the effects of market volatilities on Kraken Augur and Yobit Universal 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 Kraken Augur with a short position of Yobit Universal. See also your portfolio center
. Please also check ongoing floating volatility patterns of Kraken Augur
and Yobit Universal
Kraken Augur USD vs Yobit Universal Currency USD
Assuming 30 trading days horizon, Kraken Augur USD is expected to generate 3.46 times more return on investment than Yobit Universal. However, Kraken Augur is 3.46 times more volatile than Yobit Universal Currency USD. It trades about 0.13 of its potential returns per unit of risk. Yobit Universal Currency USD is currently generating about -0.21 per unit of risk. If you would invest 2,052 in Kraken Augur USD on February 15, 2018 and sell it today you would earn a total of 1,194 from holding Kraken Augur USD or generate 58.19% return on investment 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 Kraken Augur USD and Yobit Universal Currency USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Universal Curr and Kraken Augur 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 Kraken Augur USD are associated (or correlated) with Yobit Universal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Universal Curr has no effect on the direction of Kraken Augur i.e. Kraken Augur and Yobit Universal go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Kraken Augur USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Yobit Universal Currency USD has generated negative risk-adjusted returns adding no value to investors with long positions.