This module allows you to analyze existing cross correlation between LiveCoin LEOcoin USD and Yobit Iconic USD. You can compare the effects of market volatilities on LiveCoin LEOcoin and Yobit Iconic 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 Iconic. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin LEOcoin
and Yobit Iconic
LiveCoin LEOcoin USD vs Yobit Iconic USD
Assuming 30 trading days horizon, LiveCoin LEOcoin USD is expected to generate 0.2 times more return on investment than Yobit Iconic. However, LiveCoin LEOcoin USD is 5.01 times less risky than Yobit Iconic. It trades about -0.15 of its potential returns per unit of risk. Yobit Iconic USD is currently generating about -0.27 per unit of risk. If you would invest 28.60 in LiveCoin LEOcoin USD on February 16, 2018 and sell it today you would lose (4.92) from holding LiveCoin LEOcoin USD or give up 17.2% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very poor diversification
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin LEOcoin USD and Yobit Iconic USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Iconic 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 Iconic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Iconic USD has no effect on the direction of LiveCoin LEOcoin i.e. LiveCoin LEOcoin and Yobit Iconic 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.
Over the last 30 days Yobit Iconic USD has generated negative risk-adjusted returns adding no value to investors with long positions.