Correlation Analysis Between LiveCoin Lisk and Yobit EthereumScrypt

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

LiveCoin Lisk USD  vs.  Yobit EthereumScrypt USD

LiveCoin

Lisk on LiveCoin in USD
 7.27 
0.04  0.55%
Market Cap: 16.5 K
  

Yobit

EthereumScrypt on Yobit in USD
 0.009657 
0.000143  1.46%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Lisk USD is expected to under-perform the Yobit EthereumScrypt. In addition to that, LiveCoin Lisk is 1.22 times more volatile than Yobit EthereumScrypt USD. It trades about -0.27 of its total potential returns per unit of risk. Yobit EthereumScrypt USD is currently generating about -0.19 per unit of volatility. If you would invest  1.23  in Yobit EthereumScrypt USD on May 20, 2018 and sell it today you would lose (0.26)  from holding Yobit EthereumScrypt USD or give up 21.49% of portfolio value over 30 days.

Pair Corralation between LiveCoin Lisk and Yobit EthereumScrypt

0.24
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Lisk USD  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin Lisk USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit EthereumScrypt USD  
0 

Risk-Adjusted Performance

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

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