Correlation Analysis Between LiveCoin Emercoin and Yobit Universal

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

LiveCoin Emercoin USD  vs.  Yobit Universal Currency USD

LiveCoin

Emercoin on LiveCoin in USD

 0.30 
0.0049  1.63%
Market Cap: 90.0
  

Yobit

Universal Currency on Yobit in USD

 0.02482 
(0.00001)  0.0403%
Market Cap: 46.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to under-perform the Yobit Universal. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Emercoin USD is 1.13 times less risky than Yobit Universal. The crypto trades about -0.19 of its potential returns per unit of risk. The Yobit Universal Currency USD is currently generating about -0.14 of returns per unit of risk over similar time horizon. If you would invest  7.10  in Yobit Universal Currency USD on November 11, 2018 and sell it today you would lose (4.62)  from holding Yobit Universal Currency USD or give up 65.05% of portfolio value over 30 days.

Pair Corralation between LiveCoin Emercoin and Yobit Universal

0.94
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy97.67%
ValuesDaily Returns

Diversification

LiveCoin Emercoin USD diversification synergy

Almost no diversification

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

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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