This module allows you to analyze existing cross correlation between Yobit BiosCrypto USD and Yobit InsaneCoin USD. You can compare the effects of market volatilities on Yobit BiosCrypto and Yobit InsaneCoin 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 BiosCrypto with a short position of Yobit InsaneCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BiosCrypto
and Yobit InsaneCoin
Yobit BiosCrypto USD vs Yobit InsaneCoin USD
Assuming 30 trading days horizon, Yobit BiosCrypto is expected to generate 1.29 times less return on investment than Yobit InsaneCoin. But when comparing it to its historical volatility, Yobit BiosCrypto USD is 1.13 times less risky than Yobit InsaneCoin. It trades about 0.25 of its potential returns per unit of risk. Yobit InsaneCoin USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest 1.2 in Yobit InsaneCoin USD on November 16, 2017 and sell it today you would earn a total of 12.95 from holding Yobit InsaneCoin USD or generate 1079.17% return on investment 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 BiosCrypto USD and Yobit InsaneCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit InsaneCoin USD and Yobit BiosCrypto 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 BiosCrypto USD are associated (or correlated) with Yobit InsaneCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit InsaneCoin USD has no effect on the direction of Yobit BiosCrypto i.e. Yobit BiosCrypto and Yobit InsaneCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BiosCrypto 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 Yobit InsaneCoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.