Correlation Analysis Between Bitstamp Ethereum and LiveCoin YoCoin

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

Bitstamp Ethereum USD  vs.  LiveCoin YoCoin USD

Bitstamp

Ethereum on Bitstamp in USD
 453.39 
3.84  0.85%
Market Cap: 3.3 B
  

LiveCoin

YoCoin on LiveCoin in USD
 0.03976 
0.00241  6.45%
Market Cap: 1.8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Bitstamp Ethereum USD is expected to under-perform the LiveCoin YoCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Bitstamp Ethereum USD is 3.36 times less risky than LiveCoin YoCoin. The crypto trades about -0.11 of its potential returns per unit of risk. The LiveCoin YoCoin USD is currently generating about 0.28 of returns per unit of risk over similar time horizon. If you would invest  1.35  in LiveCoin YoCoin USD on May 26, 2018 and sell it today you would earn a total of  2.63  from holding LiveCoin YoCoin USD or generate 195.39% return on investment over 30 days.

Pair Corralation between Bitstamp Ethereum and LiveCoin YoCoin

-0.72
Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Bitstamp Ethereum USD  
0 

Risk-Adjusted Performance

Over the last 30 days Bitstamp Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin YoCoin USD  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin YoCoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.

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Alphabet
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ExchangeNASDAQ
$1155.48

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See also your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.