This module allows you to analyze existing cross correlation between Yobit Reddcoin USD and Coinbase Bitcoin USD. You can compare the effects of market volatilities on Yobit Reddcoin and Coinbase Bitcoin 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 Reddcoin with a short position of Coinbase Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Reddcoin
and Coinbase Bitcoin
Over the last 30 days Yobit Reddcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Reddcoin and Coinbase Bitcoin Volatility Contrast
Yobit Reddcoin USD vs. Coinbase Bitcoin USD
Assuming 30 trading days horizon, Yobit Reddcoin USD is expected to generate 2.32 times more return on investment than Coinbase Bitcoin. However, Yobit Reddcoin is 2.32 times more volatile than Coinbase Bitcoin USD. It trades about 0.01 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.13 per unit of risk. If you would invest 0.15 in Yobit Reddcoin USD on December 17, 2018 and sell it today you would lose (0.02) from holding Yobit Reddcoin USD or give up 14.47% of portfolio value over 30 days.
Pair Corralation between Yobit Reddcoin and Coinbase Bitcoin
|Time Period||2 Months [change]|
Diversification Opportunities for Yobit Reddcoin and Coinbase Bitcoin
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Reddcoin USD and Coinbase Bitcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinbase Bitcoin USD and Yobit Reddcoin 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 Reddcoin USD are associated (or correlated) with Coinbase Bitcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinbase Bitcoin USD has no effect on the direction of Yobit Reddcoin i.e. Yobit Reddcoin and Coinbase Bitcoin go up and down completely randomly.