This module allows you to analyze existing cross correlation between Yobit BiosCrypto USD and LiveCoin NEM USD. You can compare the effects of market volatilities on Yobit BiosCrypto and LiveCoin NEM 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 NEM. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BiosCrypto
and LiveCoin NEM
Yobit BiosCrypto USD vs LiveCoin NEM USD
Assuming 30 trading days horizon, Yobit BiosCrypto USD is expected to generate 16.95 times more return on investment than LiveCoin NEM. However, Yobit BiosCrypto is 16.95 times more volatile than LiveCoin NEM USD. It trades about 0.27 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.32 per unit of risk. If you would invest 0.68 in Yobit BiosCrypto USD on January 25, 2018 and sell it today you would lose (0.36) from holding Yobit BiosCrypto USD or give up 52.94% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit BiosCrypto USD and LiveCoin NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NEM 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 NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NEM USD has no effect on the direction of Yobit BiosCrypto i.e. Yobit BiosCrypto and LiveCoin NEM go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BiosCrypto USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days LiveCoin NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions.