This module allows you to analyze existing cross correlation between Yobit Rise USD and Yobit BitstarCoin USD. You can compare the effects of market volatilities on Yobit Rise and Yobit BitstarCoin 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 Yobit BitstarCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Rise and Yobit BitstarCoin.
Assuming 30 trading days horizon, Yobit Rise is expected to generate 1.99 times less return on investment than Yobit BitstarCoin. But when comparing it to its historical volatility, Yobit Rise USD is 1.22 times less risky than Yobit BitstarCoin. It trades about 0.08 of its potential returns per unit of risk. Yobit BitstarCoin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 4.20 in Yobit BitstarCoin USD on March 23, 2018 and sell it today you would earn a total of 1.60 from holding Yobit BitstarCoin USD or generate 38.07% return on investment over 30 days.
Pair Corralation between Yobit Rise and Yobit BitstarCoin
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Rise USD and Yobit BitstarCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit BitstarCoin 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 Yobit BitstarCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit BitstarCoin USD has no effect on the direction of Yobit Rise i.e. Yobit Rise and Yobit BitstarCoin go up and down completely randomly.
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