This module allows you to analyze existing cross correlation between Yobit Ethereum Classic USD and Yobit Pakcoin USD. You can compare the effects of market volatilities on Yobit Ethereum and Yobit Pakcoin 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 Yobit Pakcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Ethereum
and Yobit Pakcoin
Yobit Ethereum Classic USD vs Yobit Pakcoin USD
Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to generate 0.53 times more return on investment than Yobit Pakcoin. However, Yobit Ethereum Classic USD is 1.87 times less risky than Yobit Pakcoin. It trades about -0.29 of its potential returns per unit of risk. Yobit Pakcoin USD is currently generating about -0.25 per unit of risk. If you would invest 3,593 in Yobit Ethereum Classic USD on February 17, 2018 and sell it today you would lose (1,739) from holding Yobit Ethereum Classic USD or give up 48.4% 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 Yobit Pakcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Pakcoin 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 Yobit Pakcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Pakcoin USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and Yobit Pakcoin 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 Yobit Pakcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.