This module allows you to analyze existing cross correlation between LiveCoin Litecoin USD and Yobit Bitcloud USD. You can compare the effects of market volatilities on LiveCoin Litecoin and Yobit Bitcloud 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 Litecoin with a short position of Yobit Bitcloud. See also your portfolio center
. Please also check ongoing floating volatility patterns of LiveCoin Litecoin
and Yobit Bitcloud
LiveCoin Litecoin USD vs Yobit Bitcloud USD
Assuming 30 trading days horizon, LiveCoin Litecoin USD is expected to under-perform the Yobit Bitcloud. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Litecoin USD is 9.52 times less risky than Yobit Bitcloud. The crypto trades about -0.09 of its potential returns per unit of risk. The Yobit Bitcloud USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 3.30 in Yobit Bitcloud USD on February 21, 2018 and sell it today you would earn a total of 0.26 from holding Yobit Bitcloud USD or generate 7.79% return on investment 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 Litecoin USD and Yobit Bitcloud USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Bitcloud USD and LiveCoin Litecoin 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 Litecoin USD are associated (or correlated) with Yobit Bitcloud. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Bitcloud USD has no effect on the direction of LiveCoin Litecoin i.e. LiveCoin Litecoin and Yobit Bitcloud go up and down completely randomly.
Over the last 30 days LiveCoin Litecoin 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 Bitcloud USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.