Correlation Analysis Between LiveCoin LEOcoin and Yobit Global

This module allows you to analyze existing cross correlation between LiveCoin LEOcoin USD and Yobit Global Currency Reserve USD. You can compare the effects of market volatilities on LiveCoin LEOcoin and Yobit Global 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 Global. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin LEOcoin and Yobit Global.
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 Global Currency  
0

Risk-Adjusted Performance

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

LiveCoin LEOcoin and Yobit Global Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin LEOcoin USD  vs.  Yobit Global Currency Reserve

LiveCoin

LEOcoin on LiveCoin in USD

 0.06 
0.00636  11.36%
Market Cap: 36.0
  

Yobit

Global Currency Reserve on Yobit in USD

 0.03991 
0.01241  45.13%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to generate 0.5 times more return on investment than Yobit Global. However, LiveCoin LEOcoin USD is 2.01 times less risky than Yobit Global. It trades about -0.11 of its potential returns per unit of risk. Yobit Global Currency Reserve USD is currently generating about -0.13 per unit of risk. If you would invest  10.03  in LiveCoin LEOcoin USD on November 15, 2018 and sell it today you would lose (3.82)  from holding LiveCoin LEOcoin USD or give up 38.11% of portfolio value over 30 days.

Pair Corralation between LiveCoin LEOcoin and Yobit Global

0.81
Time Period2 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin LEOcoin and Yobit Global

LiveCoin LEOcoin USD diversification synergy

Very poor diversification

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

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See also your portfolio center. Please also try Chance of Distress module to get analysis of equity chance of financial distress in the next 2 years.


 
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