This module allows you to analyze existing cross correlation between Yobit AudioCoin USD and HitBTC Verge USD. You can compare the effects of market volatilities on Yobit AudioCoin and HitBTC Verge 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 Yobit AudioCoin with a short position of HitBTC Verge. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit AudioCoin
and HitBTC Verge
Yobit AudioCoin USD vs HitBTC Verge USD
Assuming 30 trading days horizon, Yobit AudioCoin USD is expected to generate 3.28 times more return on investment than HitBTC Verge. However, Yobit AudioCoin is 3.28 times more volatile than HitBTC Verge USD. It trades about 0.04 of its potential returns per unit of risk. HitBTC Verge USD is currently generating about 0.0 per unit of risk. If you would invest 3.00 in Yobit AudioCoin USD on January 21, 2018 and sell it today you would lose (2.25) from holding Yobit AudioCoin USD or give up 74.97% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit AudioCoin USD and HitBTC Verge USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Verge USD and Yobit AudioCoin 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 Yobit AudioCoin USD are associated (or correlated) with HitBTC Verge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Verge USD has no effect on the direction of Yobit AudioCoin i.e. Yobit AudioCoin and HitBTC Verge go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit AudioCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days HitBTC Verge USD has generated negative risk-adjusted returns adding no value to investors with long positions.