Pair Correlation Between LiveCoin CapriCoin and Yobit SibCoin

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

LiveCoin

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

Yobit

SibCoin on Yobit in USD
 2.5 
0.01  0.4%
Market Cap: 2.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin is expected to generate 1.67 times less return on investment than Yobit SibCoin. In addition to that, LiveCoin CapriCoin is 1.89 times more volatile than Yobit SibCoin USD. It trades about 0.07 of its total potential returns per unit of risk. Yobit SibCoin USD is currently generating about 0.23 per unit of volatility. If you would invest  131  in Yobit SibCoin USD on November 14, 2017 and sell it today you would earn a total of  118  from holding Yobit SibCoin USD or generate 90.08% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin CapriCoin and Yobit SibCoin
0.35

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

  
15 

Risk-Adjusted Performance

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