This module allows you to analyze existing cross correlation between Yobit DarkGold USD and HitBTC MaidSafe Coin USD. You can compare the effects of market volatilities on Yobit DarkGold and HitBTC MaidSafe 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 DarkGold with a short position of HitBTC MaidSafe. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit DarkGold
and HitBTC MaidSafe
Yobit DarkGold USD vs HitBTC MaidSafe Coin USD
Assuming 30 trading days horizon, Yobit DarkGold USD is expected to generate 4.24 times more return on investment than HitBTC MaidSafe. However, Yobit DarkGold is 4.24 times more volatile than HitBTC MaidSafe Coin USD. It trades about 0.12 of its potential returns per unit of risk. HitBTC MaidSafe Coin USD is currently generating about -0.22 per unit of risk. If you would invest 25.00 in Yobit DarkGold USD on February 15, 2018 and sell it today you would earn a total of 1.20 from holding Yobit DarkGold USD or generate 4.8% return on investment 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 DarkGold USD and HitBTC MaidSafe Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC MaidSafe Coin and Yobit DarkGold 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 DarkGold USD are associated (or correlated) with HitBTC MaidSafe. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC MaidSafe Coin has no effect on the direction of Yobit DarkGold i.e. Yobit DarkGold and HitBTC MaidSafe go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DarkGold USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days HitBTC MaidSafe Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.