Pair Correlation Between LiveCoin BlueCoin and Yobit Rimbit

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01456 
(0.00207)  12.45%
Market Cap: 67.0

Yobit

Rimbit on Yobit in USD
 0.0003003 
(0.0001097)  26.76%
Market Cap: 20.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 2.03 times less return on investment than Yobit Rimbit. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 3.06 times less risky than Yobit Rimbit. It trades about 0.26 of its potential returns per unit of risk. Yobit Rimbit USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  0.04  in Yobit Rimbit USD on November 15, 2017 and sell it today you would lose (0.01)  from holding Yobit Rimbit USD or give up 23.78% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Yobit Rimbit
0.34

Parameters

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

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

Yobit Rimbit USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rimbit USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.