Pair Correlation Between LiveCoin CapriCoin and Yobit Waves

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

LiveCoin

CapriCoin on LiveCoin in USD
 0.53 
0.0549  11.57%
Market Cap: 1.1 K

Yobit

Waves on Yobit in USD
 7.00 
0.06  0.86%
Market Cap: 371.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin CapriCoin USD is expected to generate 3.36 times more return on investment than Yobit Waves. However, LiveCoin CapriCoin is 3.36 times more volatile than Yobit Waves USD. It trades about 0.01 of its potential returns per unit of risk. Yobit Waves USD is currently generating about -0.07 per unit of risk. If you would invest  98.86  in LiveCoin CapriCoin USD on January 25, 2018 and sell it today you would lose (51.86)  from holding LiveCoin CapriCoin USD or give up 52.46% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin CapriCoin and Yobit Waves
0.31

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 Waves USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Waves 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 Waves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Waves USD has no effect on the direction of LiveCoin CapriCoin i.e. LiveCoin CapriCoin and Yobit Waves 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.

LiveCoin CapriCoin USD

Pair trading matchups for LiveCoin CapriCoin

Yobit Waves USD

  
0 

Risk-Adjusted Performance

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