This module allows you to analyze existing cross correlation between Yobit CannabisCoin USD and Yobit SysCoin USD. You can compare the effects of market volatilities on Yobit CannabisCoin and Yobit SysCoin 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 SysCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit CannabisCoin
and Yobit SysCoin
Yobit CannabisCoin USD vs Yobit SysCoin USD
Assuming 30 trading days horizon, Yobit CannabisCoin USD is expected to generate 13.81 times more return on investment than Yobit SysCoin. However, Yobit CannabisCoin is 13.81 times more volatile than Yobit SysCoin USD. It trades about 0.21 of its potential returns per unit of risk. Yobit SysCoin USD is currently generating about 0.3 per unit of risk. If you would invest 2.86 in Yobit CannabisCoin USD on November 17, 2017 and sell it today you would earn a total of 7.14 from holding Yobit CannabisCoin USD or generate 249.77% 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 SysCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit SysCoin 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 Yobit SysCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit SysCoin USD has no effect on the direction of Yobit CannabisCoin i.e. Yobit CannabisCoin and Yobit SysCoin 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 13 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SysCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.