This module allows you to analyze existing cross correlation between Yobit CannabisCoin USD and Kraken ZCash USD. You can compare the effects of market volatilities on Yobit CannabisCoin and Kraken ZCash 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 CannabisCoin with a short position of Kraken ZCash. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit CannabisCoin and Kraken ZCash.
Assuming 30 trading days horizon, Yobit CannabisCoin USD is expected to generate 3.69 times more return on investment than Kraken ZCash. However, Yobit CannabisCoin is 3.69 times more volatile than Kraken ZCash USD. It trades about 0.04 of its potential returns per unit of risk. Kraken ZCash USD is currently generating about -0.01 per unit of risk. If you would invest 5.60 in Yobit CannabisCoin USD on April 24, 2018 and sell it today you would lose (2.10) from holding Yobit CannabisCoin USD or give up 37.51% of portfolio value over 30 days.
Pair Corralation between Yobit CannabisCoin and Kraken ZCash
Overlapping area represents the amount of risk that can be diversified away by holding Yobit CannabisCoin USD and Kraken ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kraken ZCash USD and Yobit CannabisCoin 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 CannabisCoin USD are associated (or correlated) with Kraken ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraken ZCash USD has no effect on the direction of Yobit CannabisCoin i.e. Yobit CannabisCoin and Kraken ZCash go up and down completely randomly.
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