Pair Correlation Between Yobit B3 and LiveCoin FastCoin

This module allows you to analyze existing cross correlation between Yobit B3 Coin USD and LiveCoin FastCoin USD. You can compare the effects of market volatilities on Yobit B3 and LiveCoin FastCoin 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 B3 with a short position of LiveCoin FastCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit B3 and LiveCoin FastCoin.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 Yobit B3 Coin USD  vs   LiveCoin FastCoin USD

Yobit

B3 Coin on Yobit in USD
 0.0003341 
0.0000541  19.32%
Market Cap: 45.0

LiveCoin

FastCoin on LiveCoin in USD
 0.012 
0.00062  5.45%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 is expected to generate 1.25 times less return on investment than LiveCoin FastCoin. In addition to that, Yobit B3 is 1.76 times more volatile than LiveCoin FastCoin USD. It trades about 0.07 of its total potential returns per unit of risk. LiveCoin FastCoin USD is currently generating about 0.15 per unit of volatility. If you would invest  0.75  in LiveCoin FastCoin USD on November 15, 2017 and sell it today you would earn a total of  0.39  from holding LiveCoin FastCoin USD or generate 51.53% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and LiveCoin FastCoin
-0.15

Parameters

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

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit B3 Coin USD and LiveCoin FastCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin FastCoin USD and Yobit B3 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 B3 Coin USD are associated (or correlated) with LiveCoin FastCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin FastCoin USD has no effect on the direction of Yobit B3 i.e. Yobit B3 and LiveCoin FastCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit B3 Coin

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit B3 Coin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

LiveCoin FastCoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin FastCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.