Correlation Analysis Between Yobit BitBean and LiveCoin Litecoin

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

Yobit BitBean USD  vs.  LiveCoin Litecoin USD

Yobit

BitBean on Yobit in USD

 0.0011 
(0.000454)  29.21%
Market Cap: 0
  

LiveCoin

Litecoin on LiveCoin in USD

 24.69 
(0.69)  2.72%
Market Cap: 956.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 28.31 times more return on investment than LiveCoin Litecoin. However, Yobit BitBean is 28.31 times more volatile than LiveCoin Litecoin USD. It trades about 0.16 of its potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about -0.27 per unit of risk. If you would invest  0.40  in Yobit BitBean USD on November 10, 2018 and sell it today you would lose (0.29)  from holding Yobit BitBean USD or give up 72.5% of portfolio value over 30 days.

Pair Corralation between Yobit BitBean and LiveCoin Litecoin

0.63
Time Period2 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy97.73%
ValuesDaily Returns

Diversification

Yobit BitBean USD diversification synergy

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit BitBean USD  
10

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1038.25

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