Pair Correlation Between LiveCoin BlueCoin and Yobit Waves

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

LiveCoin

BlueCoin on LiveCoin in USD
 0.01429 
0.0032  28.85%
Market Cap: 67.0

Yobit

Waves on Yobit in USD
 13.75 
(0.15)  1.08%
Market Cap: 2.6 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin USD is expected to generate 4.17 times more return on investment than Yobit Waves. However, LiveCoin BlueCoin is 4.17 times more volatile than Yobit Waves USD. It trades about 0.29 of its potential returns per unit of risk. Yobit Waves USD is currently generating about 0.45 per unit of risk. If you would invest  0.31  in LiveCoin BlueCoin USD on November 14, 2017 and sell it today you would earn a total of  1.12  from holding LiveCoin BlueCoin USD or generate 360.97% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin BlueCoin and Yobit Waves
0.82

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy96.77%
ValuesDaily Returns

Diversification

Very poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin BlueCoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

LiveCoin BlueCoin USD

Pair trading matchups for LiveCoin BlueCoin

Yobit Waves USD

  
29 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Waves USD are ranked lower than 29 (%) of all global equities and portfolios over the last 30 days.