Correlation Analysis Between LiveCoin Lisk and Yobit Universal

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

LiveCoin Lisk USD  vs.  Yobit Universal Currency USD

LiveCoin

Lisk on LiveCoin in USD
 7.38 
0.14  1.86%
Market Cap: 16.5 K
  

Yobit

Universal Currency on Yobit in USD
 0.20 
0.0283  12.34%
Market Cap: 272
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Lisk USD is expected to generate 0.67 times more return on investment than Yobit Universal. However, LiveCoin Lisk USD is 1.49 times less risky than Yobit Universal. It trades about -0.31 of its potential returns per unit of risk. Yobit Universal Currency USD is currently generating about -0.21 per unit of risk. If you would invest  1,158  in LiveCoin Lisk USD on May 19, 2018 and sell it today you would lose (420.00)  from holding LiveCoin Lisk USD or give up 36.27% of portfolio value over 30 days.

Pair Corralation between LiveCoin Lisk and Yobit Universal

0.39
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Weak diversification

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

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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See also your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.