This module allows you to analyze existing cross correlation between Yobit SpaceCoin USD and Yobit CometCoin USD. You can compare the effects of market volatilities on Yobit SpaceCoin and Yobit CometCoin 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 SpaceCoin with a short position of Yobit CometCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit SpaceCoin and Yobit CometCoin.
Assuming 30 trading days horizon, Yobit SpaceCoin is expected to generate 4.0 times less return on investment than Yobit CometCoin. But when comparing it to its historical volatility, Yobit SpaceCoin USD is 1.69 times less risky than Yobit CometCoin. It trades about 0.04 of its potential returns per unit of risk. Yobit CometCoin USD is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 14.99 in Yobit CometCoin USD on April 23, 2018 and sell it today you would lose (2.69) from holding Yobit CometCoin USD or give up 17.95% of portfolio value over 30 days.
Pair Corralation between Yobit SpaceCoin and Yobit CometCoin
Overlapping area represents the amount of risk that can be diversified away by holding Yobit SpaceCoin USD and Yobit CometCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit CometCoin USD and Yobit SpaceCoin 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 SpaceCoin USD are associated (or correlated) with Yobit CometCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit CometCoin USD has no effect on the direction of Yobit SpaceCoin i.e. Yobit SpaceCoin and Yobit CometCoin go up and down completely randomly.
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