Correlation Analysis Between Yobit BiosCrypto and LiveCoin Adzcoin

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

Yobit BiosCrypto USD  vs.  LiveCoin Adzcoin USD

Yobit

BiosCrypto on Yobit in USD
 0.00117 
0.000725  38.26%
Market Cap: 0
  

LiveCoin

Adzcoin on LiveCoin in USD
 0.02134 
0.00006  0.28%
Market Cap: 33.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BiosCrypto USD is expected to generate 4.88 times more return on investment than LiveCoin Adzcoin. However, Yobit BiosCrypto is 4.88 times more volatile than LiveCoin Adzcoin USD. It trades about 0.16 of its potential returns per unit of risk. LiveCoin Adzcoin USD is currently generating about -0.03 per unit of risk. If you would invest  0.10  in Yobit BiosCrypto USD on April 26, 2018 and sell it today you would earn a total of  0.02  from holding Yobit BiosCrypto USD or generate 14.71% return on investment over 30 days.

Pair Corralation between Yobit BiosCrypto and LiveCoin Adzcoin

0.2
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit BiosCrypto USD  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BiosCrypto USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
LiveCoin Adzcoin USD  
0 

Risk-Adjusted Performance

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

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