This module allows you to analyze existing cross correlation between Yobit CometCoin USD and Yobit Reddcoin USD. You can compare the effects of market volatilities on Yobit CometCoin and Yobit Reddcoin 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 CometCoin with a short position of Yobit Reddcoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit CometCoin and Yobit Reddcoin.
Assuming 30 trading days horizon, Yobit CometCoin USD is expected to generate 3.76 times more return on investment than Yobit Reddcoin. However, Yobit CometCoin is 3.76 times more volatile than Yobit Reddcoin USD. It trades about 0.13 of its potential returns per unit of risk. Yobit Reddcoin USD is currently generating about -0.01 per unit of risk. If you would invest 15.00 in Yobit CometCoin USD on March 23, 2018 and sell it today you would lose (0.01) from holding Yobit CometCoin USD or give up 0.07% of portfolio value over 30 days.
Pair Corralation between Yobit CometCoin and Yobit Reddcoin
Overlapping area represents the amount of risk that can be diversified away by holding Yobit CometCoin USD and Yobit Reddcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Reddcoin USD and Yobit CometCoin 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 CometCoin USD are associated (or correlated) with Yobit Reddcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Reddcoin USD has no effect on the direction of Yobit CometCoin i.e. Yobit CometCoin and Yobit Reddcoin go up and down completely randomly.
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