Pair Correlation Between Yobit AudioCoin and LiveCoin PutinCoin

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

Yobit

AudioCoin on Yobit in USD
 0.00666 
0.00006  0.91%
Market Cap: 9.0

LiveCoin

PutinCoin on LiveCoin in USD
 0.01148 
0.00039  3.52%
Market Cap: 140
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit AudioCoin USD is expected to generate 2.88 times more return on investment than LiveCoin PutinCoin. However, Yobit AudioCoin is 2.88 times more volatile than LiveCoin PutinCoin USD. It trades about 0.0 of its potential returns per unit of risk. LiveCoin PutinCoin USD is currently generating about -0.15 per unit of risk. If you would invest  1.45  in Yobit AudioCoin USD on January 26, 2018 and sell it today you would lose (0.78)  from holding Yobit AudioCoin USD or give up 54.07% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit AudioCoin and LiveCoin PutinCoin
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 PutinCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin PutinCoin 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 PutinCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin PutinCoin USD has no effect on the direction of Yobit AudioCoin i.e. Yobit AudioCoin and LiveCoin PutinCoin 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 PutinCoin USD

  
0 

Risk-Adjusted Performance

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

LiveCoin PutinCoin USD

Pair trading matchups for LiveCoin PutinCoin