This module allows you to analyze existing cross correlation between Yobit Aircoin USD and HitBTC DigiByte USD. You can compare the effects of market volatilities on Yobit Aircoin and HitBTC DigiByte 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 Aircoin with a short position of HitBTC DigiByte. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Aircoin
and HitBTC DigiByte
Yobit Aircoin USD vs HitBTC DigiByte USD
Assuming 30 trading days horizon, Yobit Aircoin USD is expected to generate 8.63 times more return on investment than HitBTC DigiByte. However, Yobit Aircoin is 8.63 times more volatile than HitBTC DigiByte USD. It trades about 0.16 of its potential returns per unit of risk. HitBTC DigiByte USD is currently generating about 0.23 per unit of risk. If you would invest 0.02 in Yobit Aircoin USD on November 13, 2017 and sell it today you would lose (0.01) from holding Yobit Aircoin USD or give up 26.05% of portfolio value 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 Yobit Aircoin USD and HitBTC DigiByte USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigiByte USD and Yobit Aircoin 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 Aircoin USD are associated (or correlated) with HitBTC DigiByte. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigiByte USD has no effect on the direction of Yobit Aircoin i.e. Yobit Aircoin and HitBTC DigiByte go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Aircoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC DigiByte USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.