Correlation Analysis Between LiveCoin BlueCoin and Yobit Reddcoin

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

LiveCoin BlueCoin USD  vs.  Yobit Reddcoin USD


BlueCoin on LiveCoin in USD

0.00273  68.08%
Market Cap: 2.0


Reddcoin on Yobit in USD

0.000105  2.84%
Market Cap: 12.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to under-perform the Yobit Reddcoin. In addition to that, LiveCoin BlueCoin is 1.75 times more volatile than Yobit Reddcoin USD. It trades about 0.0 of its total potential returns per unit of risk. Yobit Reddcoin USD is currently generating about 0.21 per unit of volatility. If you would invest  0.26  in Yobit Reddcoin USD on August 22, 2018 and sell it today you would earn a total of  0.11  from holding Yobit Reddcoin USD or generate 41.51% return on investment over 30 days.

Pair Corralation between LiveCoin BlueCoin and Yobit Reddcoin

Time Period1 Month [change]
ValuesDaily Returns


Good diversification

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

Comparative Volatility

 Predicted Return Density 
LiveCoin BlueCoin USD  

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.
Yobit Reddcoin USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Reddcoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Pattern Recognition module to use different pattern recognition models to time the market across multiple global exchanges.