This module allows you to analyze existing cross correlation between LiveCoin LEOcoin USD and Yobit DarkGold USD. You can compare the effects of market volatilities on LiveCoin LEOcoin and Yobit DarkGold 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 DarkGold. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin LEOcoin
and Yobit DarkGold
LiveCoin LEOcoin USD vs Yobit DarkGold USD
Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to under-perform the Yobit DarkGold. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin LEOcoin USD is 7.44 times less risky than Yobit DarkGold. The crypto trades about -0.1 of its potential returns per unit of risk. The Yobit DarkGold USD is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 25.00 in Yobit DarkGold USD on February 15, 2018 and sell it today you would earn a total of 1.20 from holding Yobit DarkGold USD or generate 4.8% 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 LEOcoin USD and Yobit DarkGold USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit DarkGold 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 DarkGold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit DarkGold USD has no effect on the direction of LiveCoin LEOcoin i.e. LiveCoin LEOcoin and Yobit DarkGold go up and down completely randomly.
Over the last 30 days LiveCoin LEOcoin 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 DarkGold USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.