Correlation Analysis Between LiveCoin E-Dinar and Yobit CryptoSpots

This module allows you to analyze existing cross correlation between LiveCoin E-Dinar Coin USD and Yobit CryptoSpots USD. You can compare the effects of market volatilities on LiveCoin E-Dinar and Yobit CryptoSpots 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 E-Dinar with a short position of Yobit CryptoSpots. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin E-Dinar and Yobit CryptoSpots.
Horizon     30 Days    Login   to change
Symbolsvs
Compare Efficiency

Comparative Performance

LiveCoin E-Dinar Coin  
0

Risk-Adjusted Performance

Over the last 30 days LiveCoin E-Dinar Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit CryptoSpots USD  
8

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CryptoSpots USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

LiveCoin E-Dinar and Yobit CryptoSpots Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin E-Dinar Coin USD  vs.  Yobit CryptoSpots USD

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00828 
(0.00077)  8.51%
Market Cap: 564
  

Yobit

CryptoSpots on Yobit in USD

 0.009 
0.00  0.00%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar Coin USD is expected to under-perform the Yobit CryptoSpots. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin E-Dinar Coin USD is 5.8 times less risky than Yobit CryptoSpots. The crypto trades about -0.06 of its potential returns per unit of risk. The Yobit CryptoSpots USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  0.60  in Yobit CryptoSpots USD on November 17, 2018 and sell it today you would earn a total of  0.30  from holding Yobit CryptoSpots USD or generate 50.0% return on investment over 30 days.

Pair Corralation between LiveCoin E-Dinar and Yobit CryptoSpots

0.62
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.62%
ValuesDaily Returns

Diversification Opportunities for LiveCoin E-Dinar and Yobit CryptoSpots

LiveCoin E-Dinar Coin USD diversification synergy

Poor diversification

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

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