Correlation Analysis Between LiveCoin BlueCoin and Yobit Universal

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

LiveCoin BlueCoin USD  vs.  Yobit Universal Currency USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.00404 
0.00009  2.28%
Market Cap: 15.0
  

Yobit

Universal Currency on Yobit in USD
 0.22 
0.0119  5.79%
Market Cap: 641
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 2.74 times more return on investment than Yobit Universal. However, LiveCoin BlueCoin is 2.74 times more volatile than Yobit Universal Currency USD. It trades about 0.05 of its potential returns per unit of risk. Yobit Universal Currency USD is currently generating about -0.27 per unit of risk. If you would invest  0.49  in LiveCoin BlueCoin USD on May 21, 2018 and sell it today you would lose (0.09)  from holding LiveCoin BlueCoin USD or give up 18.05% of portfolio value over 30 days.

Pair Corralation between LiveCoin BlueCoin and Yobit Universal

0.59
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 Universal Currency USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Universal Curr 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 Universal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Universal Curr has no effect on the direction of LiveCoin BlueCoin i.e. LiveCoin BlueCoin and Yobit Universal go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin BlueCoin USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Yobit Universal Curr  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Universal Currency USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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Alphabet
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ExchangeNASDAQ
$1174.25

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