Pair Correlation Between LiveCoin Bitcoin and Yobit Bitcoin

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

LiveCoin

Bitcoin on LiveCoin in USD
 11,509 
418.45  3.77%
Market Cap: 43.6 B
(340.55)

Yobit

Bitcoin on Yobit in USD
 11,850 
547.00  4.84%
Market Cap: 9.1 B
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Bitcoin USD is expected to generate 0.9 times more return on investment than Yobit Bitcoin. However, LiveCoin Bitcoin USD is 1.11 times less risky than Yobit Bitcoin. It trades about 0.02 of its potential returns per unit of risk. Yobit Bitcoin USD is currently generating about -0.08 per unit of risk. If you would invest  1,122,034  in LiveCoin Bitcoin USD on January 21, 2018 and sell it today you would lose (12,934)  from holding LiveCoin Bitcoin USD or give up 1.15% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Bitcoin and Yobit Bitcoin
0.99

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin Bitcoin USD

  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Bitcoin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

Yobit Bitcoin USD

  
0 

Risk-Adjusted Performance

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