Correlation Analysis Between LiveCoin Karbo and Yobit Universal

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

Comparative Performance

LiveCoin Karbo USD  
0

Risk-Adjusted Performance

Over the last 30 days LiveCoin Karbo 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.

LiveCoin Karbo and Yobit Universal Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Karbo USD  vs.  Yobit Universal Currency USD

LiveCoin

Karbo on LiveCoin in USD

 0.07 
0.00198  3.14%
Market Cap: 3.0
  

Yobit

Universal Currency on Yobit in USD

 0.02804 
0.0059  26.65%
Market Cap: 37.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Karbo USD is expected to generate 0.67 times more return on investment than Yobit Universal. However, LiveCoin Karbo USD is 1.48 times less risky than Yobit Universal. It trades about -0.15 of its potential returns per unit of risk. Yobit Universal Currency USD is currently generating about -0.16 per unit of risk. If you would invest  12.52  in LiveCoin Karbo USD on November 19, 2018 and sell it today you would lose (6.22)  from holding LiveCoin Karbo USD or give up 49.66% of portfolio value over 30 days.

Pair Corralation between LiveCoin Karbo and Yobit Universal

0.92
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Karbo and Yobit Universal

LiveCoin Karbo USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Karbo 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 Karbo 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 Karbo 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 Karbo i.e. LiveCoin Karbo and Yobit Universal go up and down completely randomly.

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