Pair Correlation Between LiveCoin Ethereum and Yobit Ethereum

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

LiveCoin

Ethereum on LiveCoin in USD
 946.00 
11.00  1.18%
Market Cap: 92.3 M
(12.10)

Yobit

Ethereum on Yobit in USD
 958.10 
2.29  0.24%
Market Cap: 287.9 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Ethereum USD is expected to under-perform the Yobit Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Ethereum USD is 1.15 times less risky than Yobit Ethereum. The crypto trades about -0.1 of its potential returns per unit of risk. The Yobit Ethereum USD is currently generating about -0.06 of returns per unit of risk over similar time horizon. If you would invest  116,988  in Yobit Ethereum USD on January 21, 2018 and sell it today you would lose (20,388)  from holding Yobit Ethereum USD or give up 17.43% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Ethereum and Yobit Ethereum
0.95

Parameters

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

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin Ethereum USD

  
0 

Risk-Adjusted Performance

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

Yobit Ethereum USD

  
0 

Risk-Adjusted Performance

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