Pair Correlation Between Yobit BolivarCoin and LiveCoin BlueCoin

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

Yobit

BolivarCoin on Yobit in USD
 0.075 
0.02499  49.97%
Market Cap: 48.0

LiveCoin

BlueCoin on LiveCoin in USD
 0.0145 
(0.002)  12.12%
Market Cap: 67.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BolivarCoin USD is expected to generate 3.11 times more return on investment than LiveCoin BlueCoin. However, Yobit BolivarCoin is 3.11 times more volatile than LiveCoin BlueCoin USD. It trades about 0.2 of its potential returns per unit of risk. LiveCoin BlueCoin USD is currently generating about 0.3 per unit of risk. If you would invest  2  in Yobit BolivarCoin USD on November 17, 2017 and sell it today you would earn a total of  5.5  from holding Yobit BolivarCoin USD or generate 275.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BolivarCoin and LiveCoin BlueCoin
0.19

Parameters

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

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BolivarCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BolivarCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

LiveCoin BlueCoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.