This module allows you to analyze existing cross correlation between Yobit Ethereum USD and BitTrex Ethereum USD. You can compare the effects of market volatilities on Yobit Ethereum and BitTrex Ethereum 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 BitTrex Ethereum. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Ethereum
and BitTrex Ethereum
Yobit Ethereum USD vs BitTrex Ethereum USD
Assuming 30 trading days horizon, Yobit Ethereum USD is expected to under-perform the BitTrex Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum USD is 1.25 times less risky than BitTrex Ethereum. The crypto trades about -0.5 of its potential returns per unit of risk. The BitTrex Ethereum USD is currently generating about -0.39 of returns per unit of risk over similar time horizon. If you would invest 92,500 in BitTrex Ethereum USD on February 17, 2018 and sell it today you would lose (39,400) from holding BitTrex Ethereum USD or give up 42.59% of portfolio value over 30 days.
|Time Period||1 Month [change]|
No risk reduction
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Ethereum USD and BitTrex Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on BitTrex Ethereum 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 USD are associated (or correlated) with BitTrex Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BitTrex Ethereum USD has no effect on the direction of Yobit Ethereum i.e. Yobit Ethereum and BitTrex Ethereum go up and down completely randomly.
Over the last 30 days Yobit Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days BitTrex Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.