This module allows you to analyze existing cross correlation between LiveCoin BlueCoin USD and Yobit DebitCoin USD. You can compare the effects of market volatilities on LiveCoin BlueCoin and Yobit DebitCoin 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 DebitCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin BlueCoin and Yobit DebitCoin.
Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 3.82 times less return on investment than Yobit DebitCoin. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 3.93 times less risky than Yobit DebitCoin. It trades about 0.15 of its potential returns per unit of risk. Yobit DebitCoin USD is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 0.24 in Yobit DebitCoin USD on July 22, 2018 and sell it today you would earn a total of 0.11 from holding Yobit DebitCoin USD or generate 44.66% return on investment over 30 days.
Pair Corralation between LiveCoin BlueCoin and Yobit DebitCoin
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin BlueCoin USD and Yobit DebitCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit DebitCoin 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 DebitCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit DebitCoin USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and Yobit DebitCoin go up and down completely randomly.
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