This module allows you to analyze existing cross correlation between QuadrigaCX Bitcoin USD and Yobit Bitcoin USD. You can compare the effects of market volatilities on QuadrigaCX Bitcoin and Yobit Bitcoin 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 QuadrigaCX Bitcoin with a short position of Yobit Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of QuadrigaCX Bitcoin
and Yobit Bitcoin
Over the last 30 days QuadrigaCX Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
QuadrigaCX Bitcoin and Yobit Bitcoin Volatility Contrast
QuadrigaCX Bitcoin USD vs. Yobit Bitcoin USD
Assuming 30 trading days horizon, QuadrigaCX Bitcoin USD is expected to generate 1.86 times more return on investment than Yobit Bitcoin. However, QuadrigaCX Bitcoin is 1.86 times more volatile than Yobit Bitcoin USD. It trades about -0.23 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.51 per unit of risk. If you would invest 675,000 in QuadrigaCX Bitcoin USD on November 15, 2018 and sell it today you would lose (315,000) from holding QuadrigaCX Bitcoin USD or give up 46.67% of portfolio value over 30 days.
Pair Corralation between QuadrigaCX Bitcoin and Yobit Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for QuadrigaCX Bitcoin and Yobit Bitcoin
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding QuadrigaCX Bitcoin USD and Yobit Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Bitcoin USD and QuadrigaCX Bitcoin 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 QuadrigaCX Bitcoin USD are associated (or correlated) with Yobit Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Bitcoin USD has no effect on the direction of QuadrigaCX Bitcoin i.e. QuadrigaCX Bitcoin and Yobit Bitcoin go up and down completely randomly.