This module allows you to analyze existing cross correlation between Yobit CannabisCoin USD and Poloniex Augur USD. You can compare the effects of market volatilities on Yobit CannabisCoin and Poloniex Augur 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 Poloniex Augur. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit CannabisCoin and Poloniex Augur.
Assuming 30 trading days horizon, Yobit CannabisCoin is expected to generate 1.02 times less return on investment than Poloniex Augur. In addition to that, Yobit CannabisCoin is 3.53 times more volatile than Poloniex Augur USD. It trades about 0.05 of its total potential returns per unit of risk. Poloniex Augur USD is currently generating about 0.19 per unit of volatility. If you would invest 3,873 in Poloniex Augur USD on April 20, 2018 and sell it today you would earn a total of 1,479 from holding Poloniex Augur USD or generate 38.19% return on investment over 30 days.
Pair Corralation between Yobit CannabisCoin and Poloniex Augur
Overlapping area represents the amount of risk that can be diversified away by holding Yobit CannabisCoin USD and Poloniex Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Augur 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 Poloniex Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Augur USD has no effect on the direction of Yobit CannabisCoin i.e. Yobit CannabisCoin and Poloniex Augur go up and down completely randomly.
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