This module allows you to analyze existing cross correlation between LiveCoin BlueCoin USD and Yobit Digigems USD. You can compare the effects of market volatilities on LiveCoin BlueCoin and Yobit Digigems 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 Digigems. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin BlueCoin
and Yobit Digigems
LiveCoin BlueCoin USD vs Yobit Digigems USD
Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 1.55 times more return on investment than Yobit Digigems. However, LiveCoin BlueCoin is 1.55 times more volatile than Yobit Digigems USD. It trades about 0.31 of its potential returns per unit of risk. Yobit Digigems USD is currently generating about 0.12 per unit of risk. If you would invest 0.31 in LiveCoin BlueCoin USD on November 16, 2017 and sell it today you would earn a total of 1.34 from holding LiveCoin BlueCoin USD or generate 428.85% return on investment over 30 days.
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Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin BlueCoin USD and Yobit Digigems USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Digigems 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 Digigems. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Digigems USD has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and Yobit Digigems go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Digigems USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.