This module allows you to analyze existing cross correlation between Yobit Iconic USD and HitBTC Verge USD. You can compare the effects of market volatilities on Yobit Iconic and HitBTC Verge 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 Iconic with a short position of HitBTC Verge. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Iconic
and HitBTC Verge
Yobit Iconic USD vs HitBTC Verge USD
Assuming 30 trading days horizon, Yobit Iconic USD is expected to under-perform the HitBTC Verge. In addition to that, Yobit Iconic is 1.75 times more volatile than HitBTC Verge USD. It trades about -0.27 of its total potential returns per unit of risk. HitBTC Verge USD is currently generating about -0.2 per unit of volatility. If you would invest 6.59 in HitBTC Verge USD on February 15, 2018 and sell it today you would lose (3.55) from holding HitBTC Verge USD or give up 53.87% 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 Iconic USD and HitBTC Verge USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC Verge USD and Yobit Iconic 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 Iconic USD are associated (or correlated) with HitBTC Verge. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC Verge USD has no effect on the direction of Yobit Iconic i.e. Yobit Iconic and HitBTC Verge go up and down completely randomly.
Over the last 30 days Yobit Iconic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days HitBTC Verge USD has generated negative risk-adjusted returns adding no value to investors with long positions.