This module allows you to analyze existing cross correlation between Yobit X2Coin USD and Yobit PantherCoin USD. You can compare the effects of market volatilities on Yobit X2Coin and Yobit PantherCoin 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 X2Coin with a short position of Yobit PantherCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit X2Coin
and Yobit PantherCoin
Yobit X2Coin USD vs Yobit PantherCoin USD
Assuming 30 trading days horizon, Yobit X2Coin is expected to generate 3.26 times less return on investment than Yobit PantherCoin. But when comparing it to its historical volatility, Yobit X2Coin USD is 2.36 times less risky than Yobit PantherCoin. It trades about 0.22 of its potential returns per unit of risk. Yobit PantherCoin USD is currently generating about 0.3 of returns per unit of risk over similar time horizon. If you would invest 0.01 in Yobit PantherCoin USD on December 17, 2017 and sell it today you would earn a total of 0.02 from holding Yobit PantherCoin USD or generate 148.39% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit X2Coin USD and Yobit PantherCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit PantherCoin USD and Yobit X2Coin 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 X2Coin USD are associated (or correlated) with Yobit PantherCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit PantherCoin USD has no effect on the direction of Yobit X2Coin i.e. Yobit X2Coin and Yobit PantherCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit X2Coin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PantherCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.