This module allows you to analyze existing cross correlation between Yobit Ethereum Classic USD and Bitfinex SingularDTV USD. You can compare the effects of market volatilities on Yobit Ethereum and Bitfinex SingularDTV 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 Ethereum with a short position of Bitfinex SingularDTV. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Ethereum
and Bitfinex SingularDTV
Yobit Ethereum Classic USD vs Bitfinex SingularDTV USD
Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to generate 0.85 times more return on investment than Bitfinex SingularDTV. However, Yobit Ethereum Classic USD is 1.18 times less risky than Bitfinex SingularDTV. It trades about -0.24 of its potential returns per unit of risk. Bitfinex SingularDTV USD is currently generating about -0.25 per unit of risk. If you would invest 3,911 in Yobit Ethereum Classic USD on February 19, 2018 and sell it today you would lose (1,764) from holding Yobit Ethereum Classic USD or give up 45.1% 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 Ethereum Classic USD and Bitfinex SingularDTV USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex SingularDTV USD and Yobit Ethereum 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 Ethereum Classic USD are associated (or correlated) with Bitfinex SingularDTV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex SingularDTV USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and Bitfinex SingularDTV go up and down completely randomly.
Over the last 30 days Yobit Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Bitfinex SingularDTV USD has generated negative risk-adjusted returns adding no value to investors with long positions.