Correlation Analysis Between LiveCoin Adzcoin and Yobit Bitshares

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

LiveCoin Adzcoin USD  vs.  Yobit Bitshares USD

LiveCoin

Adzcoin on LiveCoin in USD

 0.00528 
0.00082  13.44%
Market Cap: 2.0
  

Yobit

Bitshares on Yobit in USD

 0.1 
0.021  17.50%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Adzcoin USD is expected to generate 1.63 times more return on investment than Yobit Bitshares. However, LiveCoin Adzcoin is 1.63 times more volatile than Yobit Bitshares USD. It trades about -0.12 of its potential returns per unit of risk. Yobit Bitshares USD is currently generating about -0.31 per unit of risk. If you would invest  0.68  in LiveCoin Adzcoin USD on October 21, 2018 and sell it today you would lose (0.15)  from holding LiveCoin Adzcoin USD or give up 22.58% of portfolio value over 30 days.

Pair Corralation between LiveCoin Adzcoin and Yobit Bitshares

0.41
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

LiveCoin Adzcoin USD diversification synergy

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Adzcoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin Adzcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Bitshares USD  
0 

Risk-Adjusted Performance

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

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