This module allows you to analyze existing cross correlation between Yobit DebitCoin USD and CCEX CryptoCarbon USD. You can compare the effects of market volatilities on Yobit DebitCoin and CCEX CryptoCarbon 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 DebitCoin with a short position of CCEX CryptoCarbon. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit DebitCoin
and CCEX CryptoCarbon
Yobit DebitCoin USD vs CCEX CryptoCarbon USD
Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to under-perform the CCEX CryptoCarbon. In addition to that, Yobit DebitCoin is 5.2 times more volatile than CCEX CryptoCarbon USD. It trades about -0.01 of its total potential returns per unit of risk. CCEX CryptoCarbon USD is currently generating about -0.01 per unit of volatility. If you would invest 22.98 in CCEX CryptoCarbon USD on February 16, 2018 and sell it today you would lose (0.95) from holding CCEX CryptoCarbon USD or give up 4.13% of portfolio value 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 DebitCoin USD and CCEX CryptoCarbon USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CCEX CryptoCarbon USD and Yobit DebitCoin 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 DebitCoin USD are associated (or correlated) with CCEX CryptoCarbon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEX CryptoCarbon USD has no effect on the direction of Yobit DebitCoin i.e. Yobit DebitCoin and CCEX CryptoCarbon go up and down completely randomly.
Over the last 30 days Yobit DebitCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days CCEX CryptoCarbon USD has generated negative risk-adjusted returns adding no value to investors with long positions.