Pair Correlation Between Yobit B3 and Yobit LiviaCoin

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

Yobit

B3 Coin on Yobit in USD
 0.000282 
(0.000052)  15.57%
Market Cap: 45.0

Yobit

LiviaCoin on Yobit in USD
 0.000156 
(0.000002)  1.27%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit B3 is expected to generate 20.75 times less return on investment than Yobit LiviaCoin. But when comparing it to its historical volatility, Yobit B3 Coin USD is 8.04 times less risky than Yobit LiviaCoin. It trades about 0.09 of its potential returns per unit of risk. Yobit LiviaCoin USD is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  0.02  in Yobit LiviaCoin USD on November 16, 2017 and sell it today you would lose  0.00  from holding Yobit LiviaCoin USD or give up 17.89% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit B3 and Yobit LiviaCoin
0.09

Parameters

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

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit B3 Coin

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit B3 Coin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.

Yobit LiviaCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit LiviaCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.