This module allows you to analyze existing cross correlation between Yobit iBankCoin USD and Yobit UnitaryStatus Dollar USD. You can compare the effects of market volatilities on Yobit iBankCoin and Yobit UnitaryStatus 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 iBankCoin with a short position of Yobit UnitaryStatus. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit iBankCoin
and Yobit UnitaryStatus
Yobit iBankCoin USD vs Yobit UnitaryStatus Dollar USD
Assuming 30 trading days horizon, Yobit iBankCoin USD is expected to generate 2.25 times more return on investment than Yobit UnitaryStatus. However, Yobit iBankCoin is 2.25 times more volatile than Yobit UnitaryStatus Dollar USD. It trades about 0.4 of its potential returns per unit of risk. Yobit UnitaryStatus Dollar USD is currently generating about 0.17 per unit of risk. If you would invest 0.12 in Yobit iBankCoin USD on December 17, 2017 and sell it today you would earn a total of 2.38 from holding Yobit iBankCoin USD or generate 1979.87% return on investment over 30 days.
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Overlapping area represents the amount of risk that can be diversified away by holding Yobit iBankCoin USD and Yobit UnitaryStatus Dollar USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit UnitaryStatus and Yobit iBankCoin 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 iBankCoin USD are associated (or correlated) with Yobit UnitaryStatus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit UnitaryStatus has no effect on the direction of Yobit iBankCoin i.e. Yobit iBankCoin and Yobit UnitaryStatus go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit iBankCoin USD are ranked lower than 26 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit UnitaryStatus Dollar USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.