Pair Correlation Between Yobit BiosCrypto and LiveCoin NEM

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.
 Time Horizon     30 Days    Login   to change
Symbolsvs
 Yobit BiosCrypto USD  vs   LiveCoin NEM USD

Yobit

BiosCrypto on Yobit in USD
 0.0032 
0.001291  67.63%
Market Cap: 0

LiveCoin

NEM on LiveCoin in USD
 0.42 
0.0279  6.29%
Market Cap: 24 K
 Performance (%) 
      Timeline 

Pair Volatility

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.

Correlation Coefficient

Pair Corralation between Yobit BiosCrypto and LiveCoin NEM
0.24

Parameters

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 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.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BiosCrypto USD

  
17 

Risk-Adjusted Performance

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.

Yobit BiosCrypto USD

Pair trading matchups for Yobit BiosCrypto

LiveCoin NEM USD

  
0 

Risk-Adjusted Performance

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

LiveCoin NEM USD

Pair trading matchups for LiveCoin NEM