This module allows you to analyze existing cross correlation between Yobit Bitshares USD and Yobit BitCurrency USD. You can compare the effects of market volatilities on Yobit Bitshares and Yobit BitCurrency 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 Bitshares with a short position of Yobit BitCurrency. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Bitshares
and Yobit BitCurrency
Yobit Bitshares USD vs Yobit BitCurrency USD
Assuming 30 trading days horizon, Yobit Bitshares is expected to generate 1.14 times less return on investment than Yobit BitCurrency. But when comparing it to its historical volatility, Yobit Bitshares USD is 1.26 times less risky than Yobit BitCurrency. It trades about 0.18 of its potential returns per unit of risk. Yobit BitCurrency USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 0.35 in Yobit BitCurrency USD on February 15, 2018 and sell it today you would earn a total of 0.05 from holding Yobit BitCurrency USD or generate 14.29% 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 Bitshares USD and Yobit BitCurrency USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit BitCurrency USD and Yobit Bitshares 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 Bitshares USD are associated (or correlated) with Yobit BitCurrency. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit BitCurrency USD has no effect on the direction of Yobit Bitshares i.e. Yobit Bitshares and Yobit BitCurrency go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitshares USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCurrency USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.