This module allows you to analyze existing cross correlation between Yobit Ethereum Classic USD and HitBTC Bancor Network Token USD. You can compare the effects of market volatilities on Yobit Ethereum and HitBTC Bancor 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 HitBTC Bancor. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Ethereum
and HitBTC Bancor
Yobit Ethereum Classic USD vs HitBTC Bancor Network Token US
Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the HitBTC Bancor. In addition to that, Yobit Ethereum is 1.55 times more volatile than HitBTC Bancor Network Token USD. It trades about -0.32 of its total potential returns per unit of risk. HitBTC Bancor Network Token USD is currently generating about -0.41 per unit of volatility. If you would invest 557.00 in HitBTC Bancor Network Token USD on February 15, 2018 and sell it today you would lose (229.00) from holding HitBTC Bancor Network Token USD or give up 41.11% 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 HitBTC Bancor Network Token US in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Bancor Network 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 HitBTC Bancor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Bancor Network has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and HitBTC Bancor 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 HitBTC Bancor Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions.