Pair Correlation Between LiveCoin Adzcoin and Yobit SysCoin

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

LiveCoin

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

Yobit

SysCoin on Yobit in USD
 0.46 
(0.0818)  15.15%
Market Cap: 109
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Adzcoin USD is expected to generate 2.23 times more return on investment than Yobit SysCoin. However, LiveCoin Adzcoin is 2.23 times more volatile than Yobit SysCoin USD. It trades about 0.15 of its potential returns per unit of risk. Yobit SysCoin USD is currently generating about 0.3 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 SysCoin
0.08

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Significant diversification

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

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SysCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.