Correlation Analysis Between Yobit Bitcoin and LiveCoin Bitcoin

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

Yobit Bitcoin USD  vs.  LiveCoin Bitcoin USD

Yobit

Bitcoin on Yobit in USD

 5,976 
127.49  2.09%
Market Cap: 4.8 B
  

LiveCoin

Bitcoin on LiveCoin in USD

 5,676 
16.41  0.29%
Market Cap: 29.7 B
 300.64 
5.03% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcoin USD is expected to generate 0.78 times more return on investment than LiveCoin Bitcoin. However, Yobit Bitcoin USD is 1.29 times less risky than LiveCoin Bitcoin. It trades about -0.41 of its potential returns per unit of risk. LiveCoin Bitcoin USD is currently generating about -0.36 per unit of risk. If you would invest  673,296  in Yobit Bitcoin USD on October 18, 2018 and sell it today you would lose (79,296)  from holding Yobit Bitcoin USD or give up 11.78% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcoin and LiveCoin Bitcoin

0.87
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Yobit Bitcoin USD diversification synergy

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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.
LiveCoin Bitcoin USD  
0 

Risk-Adjusted Performance

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

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