Correlation Analysis Between Exmo Litecoin and Yobit Litecoin

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

Exmo Litecoin USD  
1313

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Exmo Litecoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Exmo Litecoin unveiled solid returns over the last few months and may actually be approaching a breakup point.
Yobit Litecoin USD  
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Litecoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Yobit Litecoin revealed solid returns over the last few months and may actually be approaching a breakup point.

Exmo Litecoin and Yobit Litecoin Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo Litecoin USD  vs.  Yobit Litecoin USD

Exmo

Litecoin on Exmo in USD

 87.22 
(3.11)  3.44%
Market Cap: 3.7 M
  

Yobit

Litecoin on Yobit in USD

 88.81 
(6.37)  6.69%
Market Cap: 889 K
(1.59)
1.82% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Litecoin USD is expected to generate 0.97 times more return on investment than Yobit Litecoin. However, Exmo Litecoin USD is 1.03 times less risky than Yobit Litecoin. It trades about 0.2 of its potential returns per unit of risk. Yobit Litecoin USD is currently generating about 0.17 per unit of risk. If you would invest  5,950  in Exmo Litecoin USD on April 22, 2019 and sell it today you would earn a total of  3,083  from holding Exmo Litecoin USD or generate 51.82% return on investment over 30 days.

Pair Corralation between Exmo Litecoin and Yobit Litecoin

0.87
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Litecoin and Yobit Litecoin

Exmo Litecoin USD diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Litecoin USD and Yobit Litecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Litecoin USD and Exmo Litecoin 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 Exmo Litecoin USD are associated (or correlated) with Yobit Litecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Litecoin USD has no effect on the direction of Exmo Litecoin i.e. Exmo Litecoin and Yobit Litecoin go up and down completely randomly.
See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.


 
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