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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

LiveCoin Emercoin USD  vs.  Yobit Waves USD

LiveCoin

Emercoin on LiveCoin in USD
 2.78 
0.03  1.09%
Market Cap: 7.9 K
  

Yobit

Waves on Yobit in USD
 3.61 
0.09  2.56%
Market Cap: 15.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Emercoin USD is expected to generate 0.76 times more return on investment than Yobit Waves. However, LiveCoin Emercoin USD is 1.32 times less risky than Yobit Waves. It trades about -0.05 of its potential returns per unit of risk. Yobit Waves USD is currently generating about -0.28 per unit of risk. If you would invest  299.00  in LiveCoin Emercoin USD on May 21, 2018 and sell it today you would lose (24.00)  from holding LiveCoin Emercoin USD or give up 8.03% of portfolio value over 30 days.

Pair Corralation between LiveCoin Emercoin and Yobit Waves

-0.49
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
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 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.

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 Waves USD  
0 

Risk-Adjusted Performance

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

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