This module allows you to analyze existing cross correlation between Yobit Bitshares USD and Yobit EtherDoge USD. You can compare the effects of market volatilities on Yobit Bitshares and Yobit EtherDoge 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 EtherDoge. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Bitshares and Yobit EtherDoge.
Assuming 30 trading days horizon, Yobit Bitshares is expected to generate 1.73 times less return on investment than Yobit EtherDoge. But when comparing it to its historical volatility, Yobit Bitshares USD is 1.26 times less risky than Yobit EtherDoge. It trades about 0.05 of its potential returns per unit of risk. Yobit EtherDoge USD is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 0.40 in Yobit EtherDoge USD on April 24, 2018 and sell it today you would lose (0.06) from holding Yobit EtherDoge USD or give up 15.0% of portfolio value over 30 days.
Pair Corralation between Yobit Bitshares and Yobit EtherDoge
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitshares USD and Yobit EtherDoge USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit EtherDoge 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 EtherDoge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit EtherDoge USD has no effect on the direction of Yobit Bitshares i.e. Yobit Bitshares and Yobit EtherDoge go up and down completely randomly.
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