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.
Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the Bitfinex ZCash. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 1.38 times less risky than Bitfinex ZCash. The crypto trades about -0.39 of its potential returns per unit of risk. The Bitfinex ZCash USD is currently generating about -0.19 of returns per unit of risk over similar time horizon. If you would invest 11,589 in Bitfinex ZCash USD on November 9, 2018 and sell it today you would lose (5,743) from holding Bitfinex ZCash USD or give up 49.56% of portfolio value over 30 days.
Pair Corralation between Yobit Ethereum and Bitfinex ZCash
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.
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See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.