Pair Correlation Between Yobit BitBean and LiveCoin Karbowanec

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

Yobit

BitBean on Yobit in USD
 0.0089 
0.00002  0.23%
Market Cap: 27.0

LiveCoin

Karbowanec on LiveCoin in USD
 1.13 
(0.11)  8.87%
Market Cap: 12.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 11.01 times more return on investment than LiveCoin Karbowanec. However, Yobit BitBean is 11.01 times more volatile than LiveCoin Karbowanec USD. It trades about 0.31 of its potential returns per unit of risk. LiveCoin Karbowanec USD is currently generating about 0.14 per unit of risk. If you would invest  0.7  in Yobit BitBean USD on November 16, 2017 and sell it today you would earn a total of  0.19  from holding Yobit BitBean USD or generate 27.14% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitBean and LiveCoin Karbowanec
-0.3

Parameters

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

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitBean USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Karbowanec USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Karbowanec USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.