Pair Correlation Between LiveCoin BlueCoin and Yobit Blackstar

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01429 
0.0032  28.85%
Market Cap: 67.0

Yobit

Blackstar on Yobit in USD
 0.000453 
0.000443  4,430%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 39.33 times less return on investment than Yobit Blackstar. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 45.23 times less risky than Yobit Blackstar. It trades about 0.29 of its potential returns per unit of risk. Yobit Blackstar USD is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest  0.05  in Yobit Blackstar USD on November 14, 2017 and sell it today you would lose  0.00  from holding Yobit Blackstar USD or give up 9.4% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Yobit Blackstar
0.24

Parameters

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

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
19 

Risk-Adjusted Performance

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

LiveCoin BlueCoin USD

Pair trading matchups for LiveCoin BlueCoin

Yobit Blackstar USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Blackstar USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.