Correlation Analysis Between LiveCoin Emercoin and Yobit EthereumScrypt

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

LiveCoin Emercoin USD  vs.  Yobit EthereumScrypt USD

LiveCoin

Emercoin on LiveCoin in USD
 2.77 
0.05  1.77%
Market Cap: 29.6 K
  

Yobit

EthereumScrypt on Yobit in USD
 0.009657 
0.000143  1.46%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 0.94 times more return on investment than Yobit EthereumScrypt. However, LiveCoin Emercoin USD is 1.06 times less risky than Yobit EthereumScrypt. It trades about 0.03 of its potential returns per unit of risk. Yobit EthereumScrypt USD is currently generating about -0.2 per unit of risk. If you would invest  277.00  in LiveCoin Emercoin USD on May 23, 2018 and sell it today you would earn a total of  5.00  from holding LiveCoin Emercoin USD or generate 1.81% return on investment over 30 days.

Pair Corralation between LiveCoin Emercoin and Yobit EthereumScrypt

-0.28
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 Emercoin USD and Yobit EthereumScrypt USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit EthereumScrypt 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 Yobit EthereumScrypt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit EthereumScrypt USD has no effect on the direction of LiveCoin Emercoin i.e. LiveCoin Emercoin and Yobit EthereumScrypt go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Emercoin USD  
2 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Emercoin USD are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.
Yobit EthereumScrypt USD  
0 

Risk-Adjusted Performance

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

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