Correlation Analysis Between LiveCoin LEOcoin and Yobit Bitcloud

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

Comparative Performance

LiveCoin LEOcoin USD  
0

Risk-Adjusted Performance

Over the last 30 days LiveCoin LEOcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Bitcloud USD  
4

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

LiveCoin LEOcoin and Yobit Bitcloud Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin LEOcoin USD  vs.  Yobit Bitcloud USD

LiveCoin

LEOcoin on LiveCoin in USD

 0.07 
0.01408  24.11%
Market Cap: 36.0
  

Yobit

Bitcloud on Yobit in USD

 0.0098 
(0.0022)  18.33%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to under-perform the Yobit Bitcloud. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin LEOcoin USD is 2.56 times less risky than Yobit Bitcloud. The crypto trades about -0.09 of its potential returns per unit of risk. The Yobit Bitcloud USD is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  1.32  in Yobit Bitcloud USD on November 17, 2018 and sell it today you would lose (0.34)  from holding Yobit Bitcloud USD or give up 25.59% of portfolio value over 30 days.

Pair Corralation between LiveCoin LEOcoin and Yobit Bitcloud

0.58
Time Period2 Months [change]
DirectionPositive 
StrengthWeak
Accuracy69.77%
ValuesDaily Returns

Diversification Opportunities for LiveCoin LEOcoin and Yobit Bitcloud

LiveCoin LEOcoin USD diversification synergy

Very weak diversification

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

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See also your portfolio center. Please also try Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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