Pair Correlation Between Yobit B3 and LiveCoin TrustCoin

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

Yobit

B3 Coin on Yobit in USD
 0.0002502 
0.0000002  0.08%
Market Cap: 45.0

LiveCoin

TrustCoin on LiveCoin in USD
 0.48 
0.035  7.87%
Market Cap: 163
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 Coin USD is expected to under-perform the LiveCoin TrustCoin. In addition to that, Yobit B3 is 1.81 times more volatile than LiveCoin TrustCoin USD. It trades about -0.01 of its total potential returns per unit of risk. LiveCoin TrustCoin USD is currently generating about 0.21 per unit of volatility. If you would invest  23.05  in LiveCoin TrustCoin USD on November 14, 2017 and sell it today you would earn a total of  24.95  from holding LiveCoin TrustCoin USD or generate 108.24% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and LiveCoin TrustCoin
-0.23

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 TrustCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin TrustCoin 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 TrustCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin TrustCoin USD has no effect on the direction of Yobit B3 i.e. Yobit B3 and LiveCoin TrustCoin 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 TrustCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin TrustCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.