Pair Correlation Between LiveCoin BlueCoin and Yobit BitCurrency

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.0061 
0.00015  2.40%
Market Cap: 83.0

Yobit

BitCurrency on Yobit in USD
 0.0035 
0.0022  38.60%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to under-perform the Yobit BitCurrency. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin BlueCoin USD is 3.53 times less risky than Yobit BitCurrency. The crypto trades about -0.09 of its potential returns per unit of risk. The Yobit BitCurrency USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  0.80  in Yobit BitCurrency USD on January 24, 2018 and sell it today you would lose (0.45)  from holding Yobit BitCurrency USD or give up 56.26% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Yobit BitCurrency
0.03

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 BlueCoin USD and Yobit BitCurrency USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit BitCurrency 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 BitCurrency. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit BitCurrency USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and Yobit BitCurrency go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
0 

Risk-Adjusted Performance

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

LiveCoin BlueCoin USD

Pair trading matchups for LiveCoin BlueCoin

Yobit BitCurrency USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCurrency USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Yobit BitCurrency USD

Pair trading matchups for Yobit BitCurrency