Pair Correlation Between CCEX BitZeny and Yobit LiviaCoin

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

CCEX

BitZeny on CCEX in USD
 0.19 
(0.12)  39.58%
Market Cap: 192

Yobit

LiviaCoin on Yobit in USD
 0.000156 
(0.000002)  1.27%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BitZeny is expected to generate 1.24 times less return on investment than Yobit LiviaCoin. But when comparing it to its historical volatility, CCEX BitZeny USD is 1.36 times less risky than Yobit LiviaCoin. It trades about 0.25 of its potential returns per unit of risk. Yobit LiviaCoin USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  0.02  in Yobit LiviaCoin USD on November 16, 2017 and sell it today you would lose  0.00  from holding Yobit LiviaCoin USD or give up 17.89% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BitZeny and Yobit LiviaCoin
-0.29

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX BitZeny USD

  
16 

Risk-Adjusted Performance

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

Yobit LiviaCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit LiviaCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.