Pair Correlation Between Yobit BitBean and LiveCoin PutinCoin

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

Yobit

BitBean on Yobit in USD
 0.008989 
0.000089  1%
Market Cap: 27.0

LiveCoin

PutinCoin on LiveCoin in USD
 0.02605 
(0.00195)  6.96%
Market Cap: 32.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 9.99 times more return on investment than LiveCoin PutinCoin. However, Yobit BitBean is 9.99 times more volatile than LiveCoin PutinCoin USD. It trades about 0.32 of its potential returns per unit of risk. LiveCoin PutinCoin USD is currently generating about 0.2 per unit of risk. If you would invest  0.21  in Yobit BitBean USD on November 17, 2017 and sell it today you would earn a total of  0.69  from holding Yobit BitBean USD or generate 321.82% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitBean and LiveCoin PutinCoin
-0.01

Parameters

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

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitBean USD

  
21 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitBean USD are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days.

LiveCoin PutinCoin USD

  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin PutinCoin USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.