This module allows you to analyze existing cross correlation between Yobit Ethereum Classic USD and Bitfinex ZCash USD. You can compare the effects of market volatilities on Yobit Ethereum and Bitfinex ZCash 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 ZCash. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Ethereum
and Bitfinex ZCash
Yobit Ethereum Classic USD vs Bitfinex ZCash USD
Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the Bitfinex ZCash. In addition to that, Yobit Ethereum is 1.22 times more volatile than Bitfinex ZCash USD. It trades about -0.22 of its total potential returns per unit of risk. Bitfinex ZCash USD is currently generating about -0.26 per unit of volatility. If you would invest 39,218 in Bitfinex ZCash USD on February 21, 2018 and sell it today you would lose (15,818) from holding Bitfinex ZCash USD or give up 40.33% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ethereum Classic USD and Bitfinex ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bitfinex ZCash 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 ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitfinex ZCash USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and Bitfinex ZCash 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 ZCash USD has generated negative risk-adjusted returns adding no value to investors with long positions.