This module allows you to analyze existing cross correlation between Yobit CryptoSpots USD and Bitfinex ZCash USD. You can compare the effects of market volatilities on Yobit CryptoSpots and Bitfinex ZCash 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 CryptoSpots with a short position of Bitfinex ZCash. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit CryptoSpots
and Bitfinex ZCash
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CryptoSpots USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Bitfinex ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit CryptoSpots and Bitfinex ZCash Volatility Contrast
Yobit CryptoSpots USD vs. Bitfinex ZCash USD
Assuming 30 trading days horizon, Yobit CryptoSpots USD is expected to generate 7.27 times more return on investment than Bitfinex ZCash. However, Yobit CryptoSpots is 7.27 times more volatile than Bitfinex ZCash USD. It trades about 0.12 of its potential returns per unit of risk. Bitfinex ZCash USD is currently generating about -0.22 per unit of risk. If you would invest 0.60 in Yobit CryptoSpots USD on November 17, 2018 and sell it today you would earn a total of 0.30 from holding Yobit CryptoSpots USD or generate 50.0% return on investment over 30 days.
Pair Corralation between Yobit CryptoSpots and Bitfinex ZCash
|Time Period||2 Months [change]|
Diversification Opportunities for Yobit CryptoSpots and Bitfinex ZCash
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit CryptoSpots USD and Bitfinex ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex ZCash USD and Yobit CryptoSpots 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 CryptoSpots USD are associated (or correlated) with Bitfinex ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex ZCash USD has no effect on the direction of Yobit CryptoSpots i.e. Yobit CryptoSpots and Bitfinex ZCash go up and down completely randomly.