Pair Correlation Between LiveCoin Adzcoin and Yobit Lisk

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

LiveCoin

Adzcoin on LiveCoin in USD
 0.06432 
0.00969  13.09%
Market Cap: 149

Yobit

Lisk on Yobit in USD
 31.00 
1.00  3.12%
Market Cap: 286.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Adzcoin is expected to generate 1.16 times less return on investment than Yobit Lisk. In addition to that, LiveCoin Adzcoin is 2.72 times more volatile than Yobit Lisk USD. It trades about 0.04 of its total potential returns per unit of risk. Yobit Lisk USD is currently generating about 0.11 per unit of volatility. If you would invest  2,525  in Yobit Lisk USD on January 19, 2018 and sell it today you would earn a total of  575.00  from holding Yobit Lisk USD or generate 22.77% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Adzcoin and Yobit Lisk
-0.2

Parameters

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

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin Adzcoin USD

  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Adzcoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.

Yobit Lisk USD

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Lisk USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.