This module allows you to analyze existing cross correlation between LiveCoin Hellenic Coin USD and Yobit Avatar Coin USD. You can compare the effects of market volatilities on LiveCoin Hellenic and Yobit Avatar 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 Hellenic with a short position of Yobit Avatar. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Hellenic
and Yobit Avatar
LiveCoin Hellenic Coin USD vs Yobit Avatar Coin USD
Assuming 30 trading days horizon, LiveCoin Hellenic Coin USD is expected to under-perform the Yobit Avatar. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Hellenic Coin USD is 3.51 times less risky than Yobit Avatar. The crypto trades about -0.04 of its potential returns per unit of risk. The Yobit Avatar Coin USD is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 5.00 in Yobit Avatar Coin USD on February 21, 2018 and sell it today you would earn a total of 9.00 from holding Yobit Avatar Coin USD or generate 180.0% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Hellenic Coin USD and Yobit Avatar Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Avatar Coin and LiveCoin Hellenic 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 Hellenic Coin USD are associated (or correlated) with Yobit Avatar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Avatar Coin has no effect on the direction of LiveCoin Hellenic i.e. LiveCoin Hellenic and Yobit Avatar go up and down completely randomly.
Over the last 30 days LiveCoin Hellenic Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Avatar Coin USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.