This module allows you to analyze existing cross correlation between LiveCoin Adzcoin USD and Yobit ReddCoin USD. You can compare the effects of market volatilities on LiveCoin Adzcoin and Yobit ReddCoin 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 ReddCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Adzcoin
and Yobit ReddCoin
LiveCoin Adzcoin USD vs Yobit ReddCoin USD
Assuming 30 trading days horizon, LiveCoin Adzcoin USD is expected to under-perform the Yobit ReddCoin. In addition to that, LiveCoin Adzcoin is 1.95 times more volatile than Yobit ReddCoin USD. It trades about -0.13 of its total potential returns per unit of risk. Yobit ReddCoin USD is currently generating about -0.24 per unit of volatility. If you would invest 0.98 in Yobit ReddCoin USD on February 22, 2018 and sell it today you would lose (0.45) from holding Yobit ReddCoin USD or give up 45.5% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Adzcoin USD and Yobit ReddCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit ReddCoin 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 ReddCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit ReddCoin USD has no effect on the direction of LiveCoin Adzcoin i.e. LiveCoin Adzcoin and Yobit ReddCoin go up and down completely randomly.
Over the last 30 days LiveCoin Adzcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit ReddCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.