This module allows you to analyze existing cross correlation between Yobit BitCurrency USD and CCEX YoCoin USD. You can compare the effects of market volatilities on Yobit BitCurrency and CCEX YoCoin 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 BitCurrency with a short position of CCEX YoCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BitCurrency
and CCEX YoCoin
Yobit BitCurrency USD vs CCEX YoCoin USD
Assuming 30 trading days horizon, Yobit BitCurrency USD is expected to generate 2.92 times more return on investment than CCEX YoCoin. However, Yobit BitCurrency is 2.92 times more volatile than CCEX YoCoin USD. It trades about 0.3 of its potential returns per unit of risk. CCEX YoCoin USD is currently generating about 0.01 per unit of risk. If you would invest 0.18 in Yobit BitCurrency USD on November 17, 2017 and sell it today you would earn a total of 0.47 from holding Yobit BitCurrency USD or generate 267.23% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit BitCurrency USD and CCEX YoCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX YoCoin USD and Yobit BitCurrency 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 BitCurrency USD are associated (or correlated) with CCEX YoCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX YoCoin USD has no effect on the direction of Yobit BitCurrency i.e. Yobit BitCurrency and CCEX YoCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCurrency USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days CCEX YoCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.