Pair Correlation Between LiveCoin Adzcoin and Yobit BuzzCoin

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

LiveCoin

Adzcoin on LiveCoin in USD
 0.041 
(0.00269)  6.16%
Market Cap: 22.0

Yobit

BuzzCoin on Yobit in USD
 0.00062 
0.00012  24%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Adzcoin is expected to generate 3.08 times less return on investment than Yobit BuzzCoin. But when comparing it to its historical volatility, LiveCoin Adzcoin USD is 2.1 times less risky than Yobit BuzzCoin. It trades about 0.15 of its potential returns per unit of risk. Yobit BuzzCoin USD is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  0.04  in Yobit BuzzCoin USD on November 14, 2017 and sell it today you would earn a total of  0.02  from holding Yobit BuzzCoin USD or generate 40.91% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Adzcoin and Yobit BuzzCoin
-0.44

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin Adzcoin USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Adzcoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Yobit BuzzCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BuzzCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.