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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

LiveCoin CapriCoin USD  vs.  Yobit EtherDoge USD

LiveCoin

CapriCoin on LiveCoin in USD
 1.09 
0.11  9.17%
Market Cap: 2.3 K
  

Yobit

EtherDoge on Yobit in USD
 0.002317 
0.001167  101.48%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin is expected to generate 4.06 times less return on investment than Yobit EtherDoge. But when comparing it to its historical volatility, LiveCoin CapriCoin USD is 5.6 times less risky than Yobit EtherDoge. It trades about 0.23 of its potential returns per unit of risk. Yobit EtherDoge USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  0.22  in Yobit EtherDoge USD on May 23, 2018 and sell it today you would earn a total of  0.01  from holding Yobit EtherDoge USD or generate 4.28% return on investment over 30 days.

Pair Corralation between LiveCoin CapriCoin and Yobit EtherDoge

-0.34
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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 
      Returns 
LiveCoin CapriCoin USD  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.
Yobit EtherDoge USD  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit EtherDoge USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1151.77

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