Correlation Analysis Between LiveCoin E-Dinar and Yobit Global

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

LiveCoin E-Dinar Coin USD  vs.  Yobit Global Currency Reserve

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.00849 
0.00013  1.51%
Market Cap: 39.0
  

Yobit

Global Currency Reserve on Yobit in USD

 0.26 
0.0368  12.41%
Market Cap: 69.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar is expected to generate 13.72 times less return on investment than Yobit Global. But when comparing it to its historical volatility, LiveCoin E-Dinar Coin USD is 1.59 times less risky than Yobit Global. It trades about 0.03 of its potential returns per unit of risk. Yobit Global Currency Reserve USD is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  15.44  in Yobit Global Currency Reserve USD on August 24, 2018 and sell it today you would earn a total of  14.21  from holding Yobit Global Currency Reserve USD or generate 92.03% return on investment over 30 days.

Pair Corralation between LiveCoin E-Dinar and Yobit Global

-0.29
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin E-Dinar Coin  
1 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.
Yobit Global Currency  
15 

Risk-Adjusted Performance

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

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