This module allows you to analyze existing cross correlation between Yobit DarkGold USD and Yobit MorpheusCoin USD. You can compare the effects of market volatilities on Yobit DarkGold and Yobit MorpheusCoin 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 MorpheusCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit DarkGold
and Yobit MorpheusCoin
Yobit DarkGold USD vs Yobit MorpheusCoin USD
Assuming 30 trading days horizon, Yobit DarkGold is expected to generate 13.27 times less return on investment than Yobit MorpheusCoin. But when comparing it to its historical volatility, Yobit DarkGold USD is 7.94 times less risky than Yobit MorpheusCoin. It trades about 0.12 of its potential returns per unit of risk. Yobit MorpheusCoin USD is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 3.65 in Yobit MorpheusCoin USD on February 15, 2018 and sell it today you would lose (0.34) from holding Yobit MorpheusCoin USD or give up 9.19% 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 DarkGold USD and Yobit MorpheusCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit MorpheusCoin 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 MorpheusCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit MorpheusCoin USD has no effect on the direction of Yobit DarkGold i.e. Yobit DarkGold and Yobit MorpheusCoin 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.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MorpheusCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.