Pair Correlation Between Yobit AudioCoin and LiveCoin E-Dinar

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

Yobit

AudioCoin on Yobit in USD
 0.0066 
0.0019  22.35%
Market Cap: 9.0

LiveCoin

E-Dinar Coin on LiveCoin in USD
 0.0231 
0.00082  3.68%
Market Cap: 1.4 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit AudioCoin USD is expected to under-perform the LiveCoin E-Dinar. In addition to that, Yobit AudioCoin is 2.58 times more volatile than LiveCoin E-Dinar Coin USD. It trades about 0.0 of its total potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about 0.19 per unit of volatility. If you would invest  1.56  in LiveCoin E-Dinar Coin USD on January 25, 2018 and sell it today you would earn a total of  0.75  from holding LiveCoin E-Dinar Coin USD or generate 48.46% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit AudioCoin and LiveCoin E-Dinar
0.12

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit AudioCoin USD

  
0 

Risk-Adjusted Performance

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

Yobit AudioCoin USD

Pair trading matchups for Yobit AudioCoin

LiveCoin E-Dinar Coin

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

LiveCoin E-Dinar Coin USD

Pair trading matchups for LiveCoin E-Dinar