Correlation Analysis 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
 0.86 
0.07  7.71%
Market Cap: 361
  

Yobit

Lisk on Yobit in USD
 11.16 
0.30  2.76%
Market Cap: 8.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Yobit Lisk. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin CapriCoin USD is 1.01 times less risky than Yobit Lisk. The crypto trades about -0.23 of its potential returns per unit of risk. The Yobit Lisk USD is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  1,156  in Yobit Lisk USD on April 20, 2018 and sell it today you would lose (46.00)  from holding Yobit Lisk USD or give up 3.98% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and Yobit Lisk

0.72
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor 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  
0 

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.