This module allows you to analyze existing cross correlation between Yobit Armory Coin USD and HitBTC DigitalCash USD. You can compare the effects of market volatilities on Yobit Armory and HitBTC DigitalCash 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 Armory with a short position of HitBTC DigitalCash. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Armory
and HitBTC DigitalCash
Yobit Armory Coin USD vs HitBTC DigitalCash USD
Assuming 30 trading days horizon, Yobit Armory Coin USD is expected to generate 12.87 times more return on investment than HitBTC DigitalCash. However, Yobit Armory is 12.87 times more volatile than HitBTC DigitalCash USD. It trades about 0.27 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.15 per unit of risk. If you would invest 0.05 in Yobit Armory Coin USD on December 22, 2017 and sell it today you would lose (0.01) from holding Yobit Armory Coin USD or give up 33.33% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Armory Coin USD and HitBTC DigitalCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigitalCash USD and Yobit Armory 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 Armory Coin USD are associated (or correlated) with HitBTC DigitalCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigitalCash USD has no effect on the direction of Yobit Armory i.e. Yobit Armory and HitBTC DigitalCash go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Armory Coin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days HitBTC DigitalCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.