Correlation Analysis Between LiveCoin Emercoin and LiveCoin YoCoin

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

LiveCoin Emercoin USD  vs.  LiveCoin YoCoin USD

LiveCoin

Emercoin on LiveCoin in USD
 2.54 
0.03  1.17%
Market Cap: 7.9 K
  

LiveCoin

YoCoin on LiveCoin in USD
 0.02895 
0.00404  12.25%
Market Cap: 474
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to under-perform the LiveCoin YoCoin. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Emercoin USD is 4.32 times less risky than LiveCoin YoCoin. The crypto trades about -0.19 of its potential returns per unit of risk. The LiveCoin YoCoin USD is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  1.61  in LiveCoin YoCoin USD on May 19, 2018 and sell it today you would earn a total of  1.29  from holding LiveCoin YoCoin USD or generate 80.04% return on investment over 30 days.

Pair Corralation between LiveCoin Emercoin and LiveCoin YoCoin

0.23
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Emercoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin Emercoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin YoCoin USD  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin YoCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1152.26

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.