This module allows you to analyze existing cross correlation between Yobit DarkGold USD and Yobit BitCrystal USD. You can compare the effects of market volatilities on Yobit DarkGold and Yobit BitCrystal 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 Yobit BitCrystal. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit DarkGold
and Yobit BitCrystal
Yobit DarkGold USD vs Yobit BitCrystal USD
Assuming 30 trading days horizon, Yobit DarkGold USD is expected to under-perform the Yobit BitCrystal. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit DarkGold USD is 1.91 times less risky than Yobit BitCrystal. The crypto trades about -0.03 of its potential returns per unit of risk. The Yobit BitCrystal USD is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 0.1 in Yobit BitCrystal USD on November 14, 2017 and sell it today you would lose (0.06) from holding Yobit BitCrystal USD or give up 64.0% 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 Yobit BitCrystal USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit BitCrystal 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 Yobit BitCrystal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit BitCrystal USD has no effect on the direction of Yobit DarkGold i.e. Yobit DarkGold and Yobit BitCrystal go up and down completely randomly.
Over the last 30 days Yobit DarkGold USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCrystal USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.