This module allows you to analyze existing cross correlation between Yobit Bitcloud USD and Coinbase Bitcoin USD. You can compare the effects of market volatilities on Yobit Bitcloud and Coinbase 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 Bitcloud with a short position of Coinbase Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Bitcloud
and Coinbase Bitcoin
Yobit Bitcloud USD vs Coinbase Bitcoin USD
Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 14.26 times more return on investment than Coinbase Bitcoin. However, Yobit Bitcloud is 14.26 times more volatile than Coinbase Bitcoin USD. It trades about 0.3 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about 0.33 per unit of risk. If you would invest 2.39 in Yobit Bitcloud USD on November 15, 2017 and sell it today you would earn a total of 10.11 from holding Yobit Bitcloud USD or generate 422.36% 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 Bitcloud USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin USD and Yobit Bitcloud 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 Bitcloud USD are associated (or correlated) with Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of Yobit Bitcloud i.e. Yobit Bitcloud and Coinbase Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Coinbase Bitcoin USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.