Correlation Analysis Between LiveCoin CapriCoin and Yobit EtherDoge

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

LiveCoin CapriCoin USD  vs.  Yobit EtherDoge USD


CapriCoin on LiveCoin in USD

0.05  4.85%
Market Cap: 2.5 K


EtherDoge on Yobit in USD

0.000139  4.08%
Market Cap: 35.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Yobit EtherDoge. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin CapriCoin USD is 11.98 times less risky than Yobit EtherDoge. The crypto trades about -0.32 of its potential returns per unit of risk. The Yobit EtherDoge USD is currently generating about 0.31 of returns per unit of risk over similar time horizon. If you would invest  0.08  in Yobit EtherDoge USD on August 24, 2018 and sell it today you would earn a total of  0.27  from holding Yobit EtherDoge USD or generate 329.94% return on investment over 30 days.

Pair Corralation between LiveCoin CapriCoin and Yobit EtherDoge

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

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

Comparative Volatility

 Predicted Return Density 
LiveCoin CapriCoin USD  

Risk-Adjusted Performance

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

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EtherDoge USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

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