Pair Correlation Between LiveCoin CapriCoin and Yobit Lisk

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

LiveCoin

CapriCoin on LiveCoin in USD
 0.53 
0.0735  12.16%
Market Cap: 6.0

Yobit

Lisk on Yobit in USD
 32.37 
0.37  1.16%
Market Cap: 286.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Yobit Lisk. In addition to that, LiveCoin CapriCoin is 2.82 times more volatile than Yobit Lisk USD. It trades about -0.01 of its total potential returns per unit of risk. Yobit Lisk USD is currently generating about 0.11 per unit of volatility. If you would invest  2,525  in Yobit Lisk USD on January 19, 2018 and sell it today you would earn a total of  575.00  from holding Yobit Lisk USD or generate 22.77% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin CapriCoin and Yobit Lisk
-0.09

Parameters

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

Diversification

Good diversification

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

  
7 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Lisk USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.