Correlation Analysis Between LiveCoin CapriCoin and Yobit Spreadcoin

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

LiveCoin CapriCoin USD  vs.  Yobit Spreadcoin USD

LiveCoin

CapriCoin on LiveCoin in USD

 0.86 
0.09  9.61%
Market Cap: 397
  

Yobit

Spreadcoin on Yobit in USD

 0.023 
0.01  76.92%
Market Cap: 6.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to under-perform the Yobit Spreadcoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin CapriCoin USD is 33.59 times less risky than Yobit Spreadcoin. The crypto trades about -0.03 of its potential returns per unit of risk. The Yobit Spreadcoin USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  13.90  in Yobit Spreadcoin USD on September 22, 2018 and sell it today you would lose (11.60)  from holding Yobit Spreadcoin USD or give up 83.45% of portfolio value over 30 days.

Pair Corralation between LiveCoin CapriCoin and Yobit Spreadcoin

0.36
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.45%
ValuesDaily Returns

Diversification

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin CapriCoin USD and Yobit Spreadcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Spreadcoin 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 Spreadcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Spreadcoin USD has no effect on the direction of LiveCoin CapriCoin i.e. LiveCoin CapriCoin and Yobit Spreadcoin 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 Spreadcoin USD  
15 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1104.08

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
Search macroaxis.com