This module allows you to analyze existing cross correlation between Yobit BigUp USD and HitBTC Autumncoin USD. You can compare the effects of market volatilities on Yobit BigUp and HitBTC Autumncoin 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 BigUp with a short position of HitBTC Autumncoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BigUp
and HitBTC Autumncoin
Yobit BigUp USD vs HitBTC Autumncoin USD
Assuming 30 trading days horizon, Yobit BigUp USD is expected to generate 6.55 times more return on investment than HitBTC Autumncoin. However, Yobit BigUp is 6.55 times more volatile than HitBTC Autumncoin USD. It trades about 0.25 of its potential returns per unit of risk. HitBTC Autumncoin USD is currently generating about 0.12 per unit of risk. If you would invest 0.02 in Yobit BigUp USD on December 19, 2017 and sell it today you would lose 0.00 from holding Yobit BigUp USD or give up 10.26% 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 BigUp USD and HitBTC Autumncoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Autumncoin USD and Yobit BigUp 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 BigUp USD are associated (or correlated) with HitBTC Autumncoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Autumncoin USD has no effect on the direction of Yobit BigUp i.e. Yobit BigUp and HitBTC Autumncoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BigUp USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC Autumncoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.