Pair Correlation Between Gatecoin Litecoin and Yobit LeaCoin

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

Gatecoin

Litecoin on Gatecoin in USD
 222.22 
(27.78)  11.11%
Market Cap: 1.5 M

Yobit

LeaCoin on Yobit in USD
 0.0009 
(0.00108)  54.55%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Gatecoin Litecoin USD is expected to under-perform the Yobit LeaCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Gatecoin Litecoin USD is 16.16 times less risky than Yobit LeaCoin. The crypto trades about -0.04 of its potential returns per unit of risk. The Yobit LeaCoin USD is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest  0.05  in Yobit LeaCoin USD on December 18, 2017 and sell it today you would earn a total of  0.15  from holding Yobit LeaCoin USD or generate 296.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Gatecoin Litecoin and Yobit LeaCoin
0.44

Parameters

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 LeaCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit LeaCoin 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 LeaCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit LeaCoin USD has no effect on the direction of Gatecoin Litecoin i.e. Gatecoin Litecoin and Yobit LeaCoin 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 LeaCoin USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit LeaCoin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.