Pair Correlation Between LiveCoin BlueCoin and Yobit Song

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01109 
(0.00541)  32.79%
Market Cap: 67.0

Yobit

Song Coin on Yobit in USD
 0.01 
0.0019  23.46%
Market Cap: 14.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 5.32 times less return on investment than Yobit Song. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 6.95 times less risky than Yobit Song. It trades about 0.31 of its potential returns per unit of risk. Yobit Song Coin USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  0.02  in Yobit Song Coin USD on November 16, 2017 and sell it today you would earn a total of  0.79  from holding Yobit Song Coin USD or generate 3950.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Yobit Song
0.63

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
20 

Risk-Adjusted Performance

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.

Yobit Song Coin

  
15 

Risk-Adjusted Performance

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