Correlation Analysis Between LiveCoin Emercoin and Yobit Iconic

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

LiveCoin Emercoin USD  vs.  Yobit Iconic USD

LiveCoin

Emercoin on LiveCoin in USD
 2.59 
0.08  3.19%
Market Cap: 7.9 K
  

Yobit

Iconic on Yobit in USD
 0.046 
0.0239  34.19%
Market Cap: 4.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to under-perform the Yobit Iconic. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Emercoin USD is 6.41 times less risky than Yobit Iconic. The crypto trades about -0.16 of its potential returns per unit of risk. The Yobit Iconic USD is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  7.56  in Yobit Iconic USD on May 19, 2018 and sell it today you would lose (0.57)  from holding Yobit Iconic USD or give up 7.52% of portfolio value over 30 days.

Pair Corralation between LiveCoin Emercoin and Yobit Iconic

-0.04
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Emercoin USD and Yobit Iconic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Iconic 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 Iconic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Iconic USD has no effect on the direction of LiveCoin Emercoin i.e. LiveCoin Emercoin and Yobit Iconic 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 Iconic USD  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Iconic USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

My Equities

My Current Equities and Potential Positions
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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1173.46

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