Yobit Bitcoin USD vs. Bitstamp Bitcoin USD
Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to under-perform the Bitstamp Bitcoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Bitcoin USD is 1.22 times less risky than Bitstamp Bitcoin. The crypto trades about -0.26 of its potential returns per unit of risk. The Bitstamp Bitcoin USD is currently generating about -0.19 of returns per unit of risk over similar time horizon. If you would invest 808,749 in Bitstamp Bitcoin USD on May 21, 2018 and sell it today you would lose (146,502) from holding Bitstamp Bitcoin USD or give up 18.11% of portfolio value over 30 days.
Pair Corralation between Yobit Bitcoin and Bitstamp Bitcoin
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitcoin USD and Bitstamp Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitstamp Bitcoin USD and Yobit Bitcoin 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 Bitcoin USD are associated (or correlated) with Bitstamp Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitstamp Bitcoin USD has no effect on the direction of Yobit Bitcoin i.e. Yobit Bitcoin and Bitstamp Bitcoin go up and down completely randomly.
Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Bitstamp Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
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