This module allows you to analyze existing cross correlation between Yobit GeoCoin USD and HitBTC DigiByte USD. You can compare the effects of market volatilities on Yobit GeoCoin and HitBTC DigiByte 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 GeoCoin with a short position of HitBTC DigiByte. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit GeoCoin
and HitBTC DigiByte
Yobit GeoCoin USD vs HitBTC DigiByte USD
Assuming 30 trading days horizon, Yobit GeoCoin USD is expected to generate 6.98 times more return on investment than HitBTC DigiByte. However, Yobit GeoCoin is 6.98 times more volatile than HitBTC DigiByte USD. It trades about 0.08 of its potential returns per unit of risk. HitBTC DigiByte USD is currently generating about -0.17 per unit of risk. If you would invest 50.00 in Yobit GeoCoin USD on February 22, 2018 and sell it today you would lose (29.00) from holding Yobit GeoCoin USD or give up 58.0% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit GeoCoin USD and HitBTC DigiByte USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC DigiByte USD and Yobit GeoCoin 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 GeoCoin USD are associated (or correlated) with HitBTC DigiByte. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC DigiByte USD has no effect on the direction of Yobit GeoCoin i.e. Yobit GeoCoin and HitBTC DigiByte go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit GeoCoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days HitBTC DigiByte USD has generated negative risk-adjusted returns adding no value to investors with long positions.