Correlation Analysis Between LiveCoin Emercoin and Yobit Ethereum

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

LiveCoin Emercoin USD  vs.  Yobit Ethereum Classic USD

LiveCoin

Emercoin on LiveCoin in USD
 2.54 
0.13  4.87%
Market Cap: 29.6 K
  

Yobit

Ethereum Classic on Yobit in USD
 14.28 
0.98  6.42%
Market Cap: 952.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 0.66 times more return on investment than Yobit Ethereum. However, LiveCoin Emercoin USD is 1.52 times less risky than Yobit Ethereum. It trades about -0.03 of its potential returns per unit of risk. Yobit Ethereum Classic USD is currently generating about -0.05 per unit of risk. If you would invest  266.00  in LiveCoin Emercoin USD on May 25, 2018 and sell it today you would lose (12.00)  from holding LiveCoin Emercoin USD or give up 4.51% of portfolio value over 30 days.

Pair Corralation between LiveCoin Emercoin and Yobit Ethereum

0.46
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Risk-Adjusted Performance

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

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
$1157.66

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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.