This module allows you to analyze existing cross correlation between Yobit DarkGold USD and HitBTC DigitalNote USD. You can compare the effects of market volatilities on Yobit DarkGold and HitBTC DigitalNote 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 DigitalNote. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit DarkGold
and HitBTC DigitalNote
Yobit DarkGold USD vs HitBTC DigitalNote USD
Assuming 30 trading days horizon, Yobit DarkGold USD is expected to generate 7.77 times more return on investment than HitBTC DigitalNote. However, Yobit DarkGold is 7.77 times more volatile than HitBTC DigitalNote USD. It trades about 0.23 of its potential returns per unit of risk. HitBTC DigitalNote USD is currently generating about 0.08 per unit of risk. If you would invest 99.00 in Yobit DarkGold USD on January 21, 2018 and sell it today you would lose (15.30) from holding Yobit DarkGold USD or give up 15.45% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit DarkGold USD and HitBTC DigitalNote USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigitalNote USD 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 DigitalNote. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigitalNote USD has no effect on the direction of Yobit DarkGold i.e. Yobit DarkGold and HitBTC DigitalNote 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 15 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC DigitalNote USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.