Pair Correlation Between LiveCoin CapriCoin and Yobit SysCoin

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

LiveCoin

CapriCoin on LiveCoin in USD
 0.60 
0.0492  8.86%
Market Cap: 6.0

Yobit

SysCoin on Yobit in USD
 0.74 
0.006  0.82%
Market Cap: 113
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin is expected to generate 3.2 times less return on investment than Yobit SysCoin. In addition to that, LiveCoin CapriCoin is 1.77 times more volatile than Yobit SysCoin USD. It trades about 0.01 of its total potential returns per unit of risk. Yobit SysCoin USD is currently generating about 0.05 per unit of volatility. If you would invest  83.00  in Yobit SysCoin USD on January 18, 2018 and sell it today you would lose (9.00)  from holding Yobit SysCoin USD or give up 10.84% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin CapriCoin and Yobit SysCoin
0.46

Parameters

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

Diversification

Very weak diversification

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

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit SysCoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.