This module allows you to analyze existing cross correlation between Yobit ClubCoin USD and Bitfinex NEO USD. You can compare the effects of market volatilities on Yobit ClubCoin and Bitfinex NEO 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 ClubCoin with a short position of Bitfinex NEO. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit ClubCoin
and Bitfinex NEO
Yobit ClubCoin USD vs Bitfinex NEO USD
Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 6.49 times more return on investment than Bitfinex NEO. However, Yobit ClubCoin is 6.49 times more volatile than Bitfinex NEO USD. It trades about 0.18 of its potential returns per unit of risk. Bitfinex NEO USD is currently generating about 0.23 per unit of risk. If you would invest 312 in Yobit ClubCoin USD on November 18, 2017 and sell it today you would earn a total of 23 from holding Yobit ClubCoin USD or generate 7.37% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit ClubCoin USD and Bitfinex NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex NEO USD and Yobit ClubCoin 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 ClubCoin USD are associated (or correlated) with Bitfinex NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex NEO USD has no effect on the direction of Yobit ClubCoin i.e. Yobit ClubCoin and Bitfinex NEO go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Bitfinex NEO USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.