Correlation Analysis Between LiveCoin Emercoin and Yobit Waves

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

Comparative Performance

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 Waves USD  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Waves USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Emercoin and Yobit Waves Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Emercoin USD  vs.  Yobit Waves USD

LiveCoin

Emercoin on LiveCoin in USD

 0.36 
0.031  9.32%
Market Cap: 268
  

Yobit

Waves on Yobit in USD

 4.58 
0.96  26.52%
Market Cap: 12.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to under-perform the Yobit Waves. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Emercoin USD is 1.14 times less risky than Yobit Waves. The crypto trades about -0.21 of its potential returns per unit of risk. The Yobit Waves USD is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  204.00  in Yobit Waves USD on November 19, 2018 and sell it today you would earn a total of  158.00  from holding Yobit Waves USD or generate 77.45% return on investment over 30 days.

Pair Corralation between LiveCoin Emercoin and Yobit Waves

0.04
Time Period2 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy97.67%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Emercoin and Yobit Waves

LiveCoin Emercoin USD diversification synergy

Significant diversification

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

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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
Search macroaxis.com