This module allows you to analyze existing cross correlation between Yobit B3 Coin USD and HitBTC DigitalNote USD. You can compare the effects of market volatilities on Yobit B3 and HitBTC DigitalNote 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 B3 with a short position of HitBTC DigitalNote. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit B3
and HitBTC DigitalNote
Yobit B3 Coin USD vs HitBTC DigitalNote USD
Assuming 30 trading days horizon, Yobit B3 Coin USD is expected to under-perform the HitBTC DigitalNote. In addition to that, Yobit B3 is 1.88 times more volatile than HitBTC DigitalNote USD. It trades about -0.05 of its total potential returns per unit of risk. HitBTC DigitalNote USD is currently generating about 0.01 per unit of volatility. If you would invest 2.80 in HitBTC DigitalNote USD on January 20, 2018 and sell it today you would lose (0.28) from holding HitBTC DigitalNote USD or give up 10.15% 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 B3 Coin USD and HitBTC DigitalNote USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigitalNote USD and Yobit B3 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 B3 Coin USD are associated (or correlated) with HitBTC DigitalNote. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigitalNote USD has no effect on the direction of Yobit B3 i.e. Yobit B3 and HitBTC DigitalNote go up and down completely randomly.
Over the last 30 days Yobit B3 Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC DigitalNote USD has generated negative risk-adjusted returns adding no value to investors with long positions.