This module allows you to analyze existing cross correlation between Yobit Dogecoin USD and HitBTC Stratis USD. You can compare the effects of market volatilities on Yobit Dogecoin and HitBTC Stratis 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 Dogecoin with a short position of HitBTC Stratis. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Dogecoin
and HitBTC Stratis
Yobit Dogecoin USD vs HitBTC Stratis USD
Assuming 30 trading days horizon, Yobit Dogecoin USD is expected to under-perform the HitBTC Stratis. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Dogecoin USD is 1.12 times less risky than HitBTC Stratis. The crypto trades about -0.33 of its potential returns per unit of risk. The HitBTC Stratis USD is currently generating about -0.26 of returns per unit of risk over similar time horizon. If you would invest 843.00 in HitBTC Stratis USD on February 21, 2018 and sell it today you would lose (351.00) from holding HitBTC Stratis USD or give up 41.64% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Dogecoin USD and HitBTC Stratis USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Stratis USD and Yobit Dogecoin 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 Dogecoin USD are associated (or correlated) with HitBTC Stratis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Stratis USD has no effect on the direction of Yobit Dogecoin i.e. Yobit Dogecoin and HitBTC Stratis go up and down completely randomly.
Over the last 30 days Yobit Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC Stratis USD has generated negative risk-adjusted returns adding no value to investors with long positions.