This module allows you to analyze existing cross correlation between Yobit BitstarCoin USD and HitBTC DigitalCash USD. You can compare the effects of market volatilities on Yobit BitstarCoin 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 BitstarCoin with a short position of HitBTC DigitalCash. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit BitstarCoin and HitBTC DigitalCash.
Assuming 30 trading days horizon, Yobit BitstarCoin USD is expected to generate 5.16 times more return on investment than HitBTC DigitalCash. However, Yobit BitstarCoin is 5.16 times more volatile than HitBTC DigitalCash USD. It trades about 0.08 of its potential returns per unit of risk. HitBTC DigitalCash USD is currently generating about -0.12 per unit of risk. If you would invest 9.41 in Yobit BitstarCoin USD on March 21, 2018 and sell it today you would lose (3.41) from holding Yobit BitstarCoin USD or give up 36.24% of portfolio value over 30 days.
Pair Corralation between Yobit BitstarCoin and HitBTC DigitalCash
Overlapping area represents the amount of risk that can be diversified away by holding Yobit BitstarCoin 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 BitstarCoin 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 BitstarCoin 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 BitstarCoin i.e. Yobit BitstarCoin and HitBTC DigitalCash go up and down completely randomly.
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