Correlation Analysis Between LiveCoin E-Dinar and Yobit Reddcoin

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

LiveCoin E-Dinar Coin USD  vs.  Yobit Reddcoin USD

LiveCoin

E-Dinar Coin on LiveCoin in USD
 0.0102 
0.00091  8.19%
Market Cap: 684
  

Yobit

Reddcoin on Yobit in USD
 0.006144 
0.000149  2.49%
Market Cap: 383
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin E-Dinar Coin USD is expected to generate 1.56 times more return on investment than Yobit Reddcoin. However, LiveCoin E-Dinar is 1.56 times more volatile than Yobit Reddcoin USD. It trades about 0.0 of its potential returns per unit of risk. Yobit Reddcoin USD is currently generating about -0.03 per unit of risk. If you would invest  1.31  in LiveCoin E-Dinar Coin USD on May 22, 2018 and sell it today you would lose (0.20)  from holding LiveCoin E-Dinar Coin USD or give up 15.38% of portfolio value over 30 days.

Pair Corralation between LiveCoin E-Dinar and Yobit Reddcoin

0.62
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
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 Reddcoin USD  
0 

Risk-Adjusted Performance

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

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