This module allows you to analyze existing cross correlation between Yobit ChronosCoin USD and Yobit Avatar Coin USD. You can compare the effects of market volatilities on Yobit ChronosCoin and Yobit Avatar 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 ChronosCoin with a short position of Yobit Avatar. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit ChronosCoin
and Yobit Avatar
Yobit ChronosCoin USD vs Yobit Avatar Coin USD
Assuming 30 trading days horizon, Yobit ChronosCoin is expected to generate 3.67 times less return on investment than Yobit Avatar. But when comparing it to its historical volatility, Yobit ChronosCoin USD is 1.79 times less risky than Yobit Avatar. It trades about 0.11 of its potential returns per unit of risk. Yobit Avatar Coin USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest 15.00 in Yobit Avatar Coin USD on February 16, 2018 and sell it today you would lose (0.40) from holding Yobit Avatar Coin USD or give up 2.67% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit ChronosCoin USD and Yobit Avatar Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Avatar Coin and Yobit ChronosCoin 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 ChronosCoin USD are associated (or correlated) with Yobit Avatar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Avatar Coin has no effect on the direction of Yobit ChronosCoin i.e. Yobit ChronosCoin and Yobit Avatar go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ChronosCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Avatar Coin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.