This module allows you to analyze existing cross correlation between Yobit UnitaryStatus Dollar USD and HitBTC ZCash USD. You can compare the effects of market volatilities on Yobit UnitaryStatus and HitBTC ZCash 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 UnitaryStatus with a short position of HitBTC ZCash. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit UnitaryStatus
and HitBTC ZCash
Yobit UnitaryStatus Dollar USD vs HitBTC ZCash USD
Assuming 30 trading days horizon, Yobit UnitaryStatus Dollar USD is expected to generate 3.78 times more return on investment than HitBTC ZCash. However, Yobit UnitaryStatus is 3.78 times more volatile than HitBTC ZCash USD. It trades about 0.11 of its potential returns per unit of risk. HitBTC ZCash USD is currently generating about 0.03 per unit of risk. If you would invest 0.03 in Yobit UnitaryStatus Dollar USD on December 22, 2017 and sell it today you would lose (0.01) from holding Yobit UnitaryStatus Dollar USD or give up 30.72% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit UnitaryStatus Dollar USD and HitBTC ZCash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on HitBTC ZCash USD and Yobit UnitaryStatus 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 UnitaryStatus Dollar USD are associated (or correlated) with HitBTC ZCash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HitBTC ZCash USD has no effect on the direction of Yobit UnitaryStatus i.e. Yobit UnitaryStatus and HitBTC ZCash go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit UnitaryStatus Dollar USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in HitBTC ZCash USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.