This module allows you to analyze existing cross correlation between Yobit Decred USD and Yobit Rise USD. You can compare the effects of market volatilities on Yobit Decred and Yobit Rise 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 Decred with a short position of Yobit Rise. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Decred
and Yobit Rise
Yobit Decred USD vs Yobit Rise USD
Assuming 30 trading days horizon, Yobit Decred is expected to generate 7.05 times less return on investment than Yobit Rise. But when comparing it to its historical volatility, Yobit Decred USD is 3.53 times less risky than Yobit Rise. It trades about 0.09 of its potential returns per unit of risk. Yobit Rise USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 46 in Yobit Rise USD on December 20, 2017 and sell it today you would earn a total of 27 from holding Yobit Rise USD or generate 58.7% return on investment over 30 days.
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Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Decred USD and Yobit Rise USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Rise USD and Yobit Decred 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 Decred USD are associated (or correlated) with Yobit Rise. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Rise USD has no effect on the direction of Yobit Decred i.e. Yobit Decred and Yobit Rise go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Decred USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rise USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.