This module allows you to analyze existing cross correlation between Yobit Rise USD and Coinbase Bitcoin USD. You can compare the effects of market volatilities on Yobit Rise 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 Rise with a short position of Coinbase Bitcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Rise
and Coinbase Bitcoin
Yobit Rise USD vs Coinbase Bitcoin USD
Assuming 30 trading days horizon, Yobit Rise USD is expected to generate 4.43 times more return on investment than Coinbase Bitcoin. However, Yobit Rise is 4.43 times more volatile than Coinbase Bitcoin USD. It trades about 0.16 of its potential returns per unit of risk. Coinbase Bitcoin USD is currently generating about -0.17 per unit of risk. If you would invest 62.7 in Yobit Rise USD on December 17, 2017 and sell it today you would earn a total of 28.9 from holding Yobit Rise USD or generate 46.09% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Rise 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 Rise 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 Rise 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 Rise i.e. Yobit Rise and Coinbase Bitcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rise USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Coinbase Bitcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.