This module allows you to analyze existing cross correlation between Yobit MaxCoin USD and Yobit Dogecoin USD. You can compare the effects of market volatilities on Yobit MaxCoin and Yobit Dogecoin 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 MaxCoin with a short position of Yobit Dogecoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit MaxCoin
and Yobit Dogecoin
Yobit MaxCoin USD vs Yobit Dogecoin USD
Assuming 30 trading days horizon, Yobit MaxCoin USD is expected to generate 4.21 times more return on investment than Yobit Dogecoin. However, Yobit MaxCoin is 4.21 times more volatile than Yobit Dogecoin USD. It trades about 0.03 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about -0.45 per unit of risk. If you would invest 4.90 in Yobit MaxCoin USD on February 15, 2018 and sell it today you would lose (1.50) from holding Yobit MaxCoin USD or give up 30.53% of portfolio value over 30 days.
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Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit MaxCoin USD and Yobit Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Dogecoin USD and Yobit MaxCoin 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 MaxCoin USD are associated (or correlated) with Yobit Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Dogecoin USD has no effect on the direction of Yobit MaxCoin i.e. Yobit MaxCoin and Yobit Dogecoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit MaxCoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Yobit Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.