This module allows you to analyze existing cross correlation between Yobit BitCurrency USD and Lykke Time USD. You can compare the effects of market volatilities on Yobit BitCurrency and Lykke Time 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 Lykke Time. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BitCurrency
and Lykke Time
Yobit BitCurrency USD vs Lykke Time USD
Assuming 30 trading days horizon, Yobit BitCurrency USD is expected to generate 18.43 times more return on investment than Lykke Time. However, Yobit BitCurrency is 18.43 times more volatile than Lykke Time USD. It trades about 0.3 of its potential returns per unit of risk. Lykke Time USD is currently generating about -0.08 per unit of risk. If you would invest 0.12 in Yobit BitCurrency USD on November 16, 2017 and sell it today you would earn a total of 0.3 from holding Yobit BitCurrency USD or generate 243.09% 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 BitCurrency USD and Lykke Time USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Lykke Time 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 Lykke Time. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lykke Time USD has no effect on the direction of Yobit BitCurrency i.e. Yobit BitCurrency and Lykke Time 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 20 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Lykke Time USD has generated negative risk-adjusted returns adding no value to investors with long positions.