Pair Correlation Between LiveCoin Adzcoin and Yobit DarkGold

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

LiveCoin

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

Yobit

DarkGold on Yobit in USD
 0.5 
0.2  66.61%
Market Cap: 30.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Adzcoin USD is expected to generate 0.61 times more return on investment than Yobit DarkGold. However, LiveCoin Adzcoin USD is 1.65 times less risky than Yobit DarkGold. It trades about 0.15 of its potential returns per unit of risk. Yobit DarkGold USD is currently generating about 0.0 per unit of risk. If you would invest  2.79  in LiveCoin Adzcoin USD on November 14, 2017 and sell it today you would earn a total of  1.31  from holding LiveCoin Adzcoin USD or generate 46.95% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Adzcoin and Yobit DarkGold
0.09

Parameters

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

Diversification

Significant diversification

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

  
0 

Risk-Adjusted Performance

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