Correlation Analysis Between LiveCoin BlueCoin and Yobit PetroDollar

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

LiveCoin BlueCoin USD  vs.  Yobit PetroDollar USD

LiveCoin

BlueCoin on LiveCoin in USD
 0.00314 
0.00027  9.41%
Market Cap: 23.0
  

Yobit

PetroDollar on Yobit in USD
 0.07 
0.0434  169.53%
Market Cap: 9.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin BlueCoin is expected to generate 12.99 times less return on investment than Yobit PetroDollar. But when comparing it to its historical volatility, LiveCoin BlueCoin USD is 4.49 times less risky than Yobit PetroDollar. It trades about 0.12 of its potential returns per unit of risk. Yobit PetroDollar USD is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest  0.84  in Yobit PetroDollar USD on July 21, 2018 and sell it today you would earn a total of  6.06  from holding Yobit PetroDollar USD or generate 724.37% return on investment over 30 days.

Pair Corralation between LiveCoin BlueCoin and Yobit PetroDollar

0.05
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy70.97%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin BlueCoin USD  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.
Yobit PetroDollar USD  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit PetroDollar USD are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.

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