Correlation Analysis Between Gatecoin Litecoin and Yobit Dogecoin

This module allows you to analyze existing cross correlation between Gatecoin Litecoin USD and Yobit Dogecoin USD. You can compare the effects of market volatilities on Gatecoin Litecoin and Yobit Dogecoin 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 Gatecoin Litecoin with a short position of Yobit Dogecoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Gatecoin Litecoin and Yobit Dogecoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Gatecoin Litecoin USD  vs.  Yobit Dogecoin USD

Gatecoin

Litecoin on Gatecoin in USD
 150.00 
51.00  51.52%
Market Cap: 152
  

Yobit

Dogecoin on Yobit in USD
 0.002761 
0.000011  0.40%
Market Cap: 12.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Litecoin USD is expected to generate 1.37 times more return on investment than Yobit Dogecoin. However, Gatecoin Litecoin is 1.37 times more volatile than Yobit Dogecoin USD. It trades about -0.09 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about -0.21 per unit of risk. If you would invest  11,500  in Gatecoin Litecoin USD on May 23, 2018 and sell it today you would lose (2,100)  from holding Gatecoin Litecoin USD or give up 18.26% of portfolio value over 30 days.

Pair Corralation between Gatecoin Litecoin and Yobit Dogecoin

0.56
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Gatecoin Litecoin USD and Yobit Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Dogecoin USD and Gatecoin Litecoin 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 Gatecoin Litecoin USD are associated (or correlated) with Yobit Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Dogecoin USD has no effect on the direction of Gatecoin Litecoin i.e. Gatecoin Litecoin and Yobit Dogecoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Gatecoin Litecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Gatecoin Litecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Dogecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.