This module allows you to analyze existing cross correlation between Yobit Ethereum Classic USD and Yobit HiCoin USD. You can compare the effects of market volatilities on Yobit Ethereum and Yobit HiCoin 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 HiCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Ethereum
and Yobit HiCoin
Yobit Ethereum Classic USD vs Yobit HiCoin USD
Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the Yobit HiCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 6.44 times less risky than Yobit HiCoin. The crypto trades about -0.35 of its potential returns per unit of risk. The Yobit HiCoin USD is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 0.50 in Yobit HiCoin USD on February 15, 2018 and sell it today you would lose (0.30) from holding Yobit HiCoin USD or give up 59.82% 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 HiCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit HiCoin 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 HiCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit HiCoin USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and Yobit HiCoin 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.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HiCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.