Correlation Analysis Between LiveCoin CapriCoin and Yobit Dogecoin

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

LiveCoin CapriCoin USD  vs.  Yobit Dogecoin USD

LiveCoin

CapriCoin on LiveCoin in USD
 1.12 
0.02  1.75%
Market Cap: 170
  

Yobit

Dogecoin on Yobit in USD
 0.00277 
0.000362  15.03%
Market Cap: 8 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to generate 1.52 times more return on investment than Yobit Dogecoin. However, LiveCoin CapriCoin is 1.52 times more volatile than Yobit Dogecoin USD. It trades about -0.01 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about -0.05 per unit of risk. If you would invest  123.00  in LiveCoin CapriCoin USD on June 16, 2018 and sell it today you would lose (11.00)  from holding LiveCoin CapriCoin USD or give up 8.94% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and Yobit Dogecoin

0.23
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.45%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin CapriCoin USD  
0 

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 Dogecoin USD  
0 

Risk-Adjusted Performance

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

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