Pair Correlation Between Yobit BitBean and LiveCoin TrustCoin

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

Yobit

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

LiveCoin

TrustCoin on LiveCoin in USD
 0.45 
(0.0325)  6.77%
Market Cap: 163
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitBean USD is expected to generate 10.34 times more return on investment than LiveCoin TrustCoin. However, Yobit BitBean is 10.34 times more volatile than LiveCoin TrustCoin USD. It trades about 0.31 of its potential returns per unit of risk. LiveCoin TrustCoin USD is currently generating about 0.2 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 TrustCoin
-0.35

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 TrustCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin TrustCoin 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 TrustCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin TrustCoin USD has no effect on the direction of Yobit BitBean i.e. Yobit BitBean and LiveCoin TrustCoin 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 TrustCoin USD

  
13 

Risk-Adjusted Performance

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