This module allows you to analyze existing cross correlation between Yobit AudioCoin USD and LiveCoin BlueCoin USD. You can compare the effects of market volatilities on Yobit AudioCoin and LiveCoin BlueCoin 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 Yobit AudioCoin with a short position of LiveCoin BlueCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit AudioCoin
and LiveCoin BlueCoin
Yobit AudioCoin USD vs LiveCoin BlueCoin USD
Assuming 30 trading days horizon, Yobit AudioCoin USD is expected to generate 2.42 times more return on investment than LiveCoin BlueCoin. However, Yobit AudioCoin is 2.42 times more volatile than LiveCoin BlueCoin USD. It trades about 0.1 of its potential returns per unit of risk. LiveCoin BlueCoin USD is currently generating about 0.0 per unit of risk. If you would invest 1.22 in Yobit AudioCoin USD on January 22, 2018 and sell it today you would lose (0.47) from holding Yobit AudioCoin USD or give up 38.44% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit AudioCoin USD and LiveCoin BlueCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin BlueCoin USD and Yobit AudioCoin 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 Yobit AudioCoin USD are associated (or correlated) with LiveCoin BlueCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin BlueCoin USD has no effect on the direction of Yobit AudioCoin i.e. Yobit AudioCoin and LiveCoin BlueCoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit AudioCoin USD are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days LiveCoin BlueCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.