This module allows you to analyze existing cross correlation between Yobit HiCoin USD and Coinroom ZCoin USD. You can compare the effects of market volatilities on Yobit HiCoin and Coinroom ZCoin 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 HiCoin with a short position of Coinroom ZCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit HiCoin
and Coinroom ZCoin
Yobit HiCoin USD vs Coinroom ZCoin USD
Assuming 30 trading days horizon, Yobit HiCoin USD is expected to generate 3.15 times more return on investment than Coinroom ZCoin. However, Yobit HiCoin is 3.15 times more volatile than Coinroom ZCoin USD. It trades about 0.1 of its potential returns per unit of risk. Coinroom ZCoin USD is currently generating about -0.06 per unit of risk. If you would invest 0.50 in Yobit HiCoin USD on February 15, 2018 and sell it today you would lose (0.30) from holding Yobit HiCoin USD or give up 59.82% 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 HiCoin USD and Coinroom ZCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Coinroom ZCoin USD and Yobit HiCoin 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 HiCoin USD are associated (or correlated) with Coinroom ZCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coinroom ZCoin USD has no effect on the direction of Yobit HiCoin i.e. Yobit HiCoin and Coinroom ZCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit HiCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days Coinroom ZCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.