Pair Correlation Between LiveCoin CapriCoin and Yobit Rise

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

LiveCoin

CapriCoin on LiveCoin in USD
 0.39 
(0.24)  37.9%
Market Cap: 2.0

Yobit

Rise on Yobit in USD
 0.59 
0.17  42%
Market Cap: 9.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin is expected to generate 2.59 times less return on investment than Yobit Rise. But when comparing it to its historical volatility, LiveCoin CapriCoin USD is 1.01 times less risky than Yobit Rise. It trades about 0.07 of its potential returns per unit of risk. Yobit Rise USD is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  32  in Yobit Rise USD on November 14, 2017 and sell it today you would earn a total of  23  from holding Yobit Rise USD or generate 71.88% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin CapriCoin and Yobit Rise
0.02

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin CapriCoin USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin CapriCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

Yobit Rise USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Rise USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.