This module allows you to analyze existing cross correlation between LiveCoin Emercoin USD and Yobit Reddcoin USD. You can compare the effects of market volatilities on LiveCoin Emercoin 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 Emercoin with a short position of Yobit Reddcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Emercoin
and Yobit Reddcoin
Over the last 30 days LiveCoin Emercoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days Yobit Reddcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin Emercoin and Yobit Reddcoin Volatility Contrast
LiveCoin Emercoin USD vs. Yobit Reddcoin USD
Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 1.23 times more return on investment than Yobit Reddcoin. However, LiveCoin Emercoin is 1.23 times more volatile than Yobit Reddcoin USD. It trades about -0.2 of its potential returns per unit of risk. Yobit Reddcoin USD is currently generating about -0.25 per unit of risk. If you would invest 95.94 in LiveCoin Emercoin USD on November 16, 2018 and sell it today you would lose (66.21) from holding LiveCoin Emercoin USD or give up 69.01% of portfolio value over 30 days.
Pair Corralation between LiveCoin Emercoin and Yobit Reddcoin
|Time Period||2 Months [change]|
Diversification Opportunities for LiveCoin Emercoin and Yobit Reddcoin
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Emercoin 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 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 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 Emercoin i.e. LiveCoin Emercoin and Yobit Reddcoin go up and down completely randomly.
See also your portfolio center
. Please also try Positions Ratings
module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.