This module allows you to analyze existing cross correlation between Yobit BitBean USD and HitBTC Stratis USD. You can compare the effects of market volatilities on Yobit BitBean and HitBTC Stratis 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 BitBean with a short position of HitBTC Stratis. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BitBean
and HitBTC Stratis
Yobit BitBean USD vs HitBTC Stratis USD
Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 6.84 times more return on investment than HitBTC Stratis. However, Yobit BitBean is 6.84 times more volatile than HitBTC Stratis USD. It trades about 0.07 of its potential returns per unit of risk. HitBTC Stratis USD is currently generating about -0.18 per unit of risk. If you would invest 2.60 in Yobit BitBean USD on February 22, 2018 and sell it today you would lose (1.70) from holding Yobit BitBean USD or give up 65.38% 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 BitBean USD and HitBTC Stratis USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Stratis USD and Yobit BitBean 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 BitBean USD are associated (or correlated) with HitBTC Stratis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Stratis USD has no effect on the direction of Yobit BitBean i.e. Yobit BitBean and HitBTC Stratis go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days HitBTC Stratis USD has generated negative risk-adjusted returns adding no value to investors with long positions.