Pair Correlation Between Yobit B3 and LiveCoin Litecoin

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

Yobit

B3 Coin on Yobit in USD
 0.00025 
(0.00018)  41.86%
Market Cap: 45.0

LiveCoin

Litecoin on LiveCoin in USD
 290 
27.91  10.65%
Market Cap: 9.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 Coin USD is expected to under-perform the LiveCoin Litecoin. In addition to that, Yobit B3 is 2.4 times more volatile than LiveCoin Litecoin USD. It trades about -0.01 of its total potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about 0.43 per unit of volatility. If you would invest  6,350  in LiveCoin Litecoin USD on November 14, 2017 and sell it today you would earn a total of  22,650  from holding LiveCoin Litecoin USD or generate 356.69% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and LiveCoin Litecoin
-0.34

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit B3 Coin

  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit B3 Coin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

LiveCoin Litecoin USD

  
28 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Litecoin USD are ranked lower than 28 (%) of all global equities and portfolios over the last 30 days.