This module allows you to analyze existing cross correlation between Yobit CannabisCoin USD and Yobit Dark Moon USD. You can compare the effects of market volatilities on Yobit CannabisCoin and Yobit Dark 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 Yobit Dark. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit CannabisCoin
and Yobit Dark
Yobit CannabisCoin USD vs Yobit Dark Moon USD
Assuming 30 trading days horizon, Yobit CannabisCoin is expected to generate 2.79 times less return on investment than Yobit Dark. But when comparing it to its historical volatility, Yobit CannabisCoin USD is 1.98 times less risky than Yobit Dark. It trades about 0.13 of its potential returns per unit of risk. Yobit Dark Moon USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 0.08 in Yobit Dark Moon USD on February 21, 2018 and sell it today you would earn a total of 0.03 from holding Yobit Dark Moon USD or generate 33.94% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit CannabisCoin USD and Yobit Dark Moon USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Dark Moon 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 Yobit Dark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Dark Moon has no effect on the direction of Yobit CannabisCoin i.e. Yobit CannabisCoin and Yobit Dark go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CannabisCoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dark Moon USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.