This module allows you to analyze existing cross correlation between Yobit Bitcoin USD and Neraex Bitcoin USD. You can compare the effects of market volatilities on Yobit Bitcoin and Neraex Bitcoin 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 Bitcoin with a short position of Neraex Bitcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Bitcoin and Neraex Bitcoin.
|Horizon||30 Days Login to change|
|Yobit Bitcoin USD|
Over the last 30 days Yobit Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Yobit Bitcoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
|Neraex Bitcoin USD|
Over the last 30 days Neraex Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Crypto's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the entity investors.
Yobit Bitcoin and Neraex Bitcoin Volatility Contrast
Predicted Return Density
Yobit Bitcoin USD vs. Neraex Bitcoin USD
Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to generate 0.76 times more return on investment than Neraex Bitcoin. However, Yobit Bitcoin USD is 1.32 times less risky than Neraex Bitcoin. It trades about -0.02 of its potential returns per unit of risk. Neraex Bitcoin USD is currently generating about -0.03 per unit of risk. If you would invest 1,188,000 in Yobit Bitcoin USD on July 22, 2019 and sell it today you would lose (92,921) from holding Yobit Bitcoin USD or give up 7.82% of portfolio value over 30 days.
Pair Corralation between Yobit Bitcoin and Neraex Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Yobit Bitcoin and Neraex Bitcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitcoin USD and Neraex Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Neraex 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 Neraex Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neraex Bitcoin USD has no effect on the direction of Yobit Bitcoin i.e. Yobit Bitcoin and Neraex Bitcoin go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.