Pair Correlation Between LiveCoin BlueCoin and Yobit Eurocoin

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01402 
0.00001  0.0714%
Market Cap: 67.0

Yobit

Eurocoin on Yobit in USD
 0.01111 
(0.03089)  73.55%
Market Cap: 26.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 11.63 times less return on investment than Yobit Eurocoin. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 14.16 times less risky than Yobit Eurocoin. It trades about 0.23 of its potential returns per unit of risk. Yobit Eurocoin USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  1  in Yobit Eurocoin USD on November 12, 2017 and sell it today you would earn a total of  3.2  from holding Yobit Eurocoin USD or generate 320.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Yobit Eurocoin
0.54

Parameters

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

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

Yobit Eurocoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Eurocoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.