Pair Correlation Between LiveCoin BlueCoin and Yobit InsaneCoin

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.00647 
0.00034  4.99%
Market Cap: 83.0

Yobit

InsaneCoin on Yobit in USD
 0.05 
0.00999  24.97%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to under-perform the Yobit InsaneCoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin BlueCoin USD is 2.47 times less risky than Yobit InsaneCoin. The crypto trades about -0.04 of its potential returns per unit of risk. The Yobit InsaneCoin USD is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest  4.00  in Yobit InsaneCoin USD on January 25, 2018 and sell it today you would earn a total of  1.00  from holding Yobit InsaneCoin USD or generate 25.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Yobit InsaneCoin
-0.12

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

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

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit InsaneCoin USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Yobit InsaneCoin USD

Pair trading matchups for Yobit InsaneCoin