Pair Correlation Between Yobit BolivarCoin and LiveCoin NEM

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

Yobit

BolivarCoin on Yobit in USD
 0.08 
0.005  6.67%
Market Cap: 48.0

LiveCoin

NEM on LiveCoin in USD
 0.68 
0.0367  5.74%
Market Cap: 682
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BolivarCoin USD is expected to generate 5.4 times more return on investment than LiveCoin NEM. However, Yobit BolivarCoin is 5.4 times more volatile than LiveCoin NEM USD. It trades about 0.2 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about 0.28 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  6  from holding Yobit BolivarCoin USD or generate 300.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BolivarCoin and LiveCoin NEM
0.18

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

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.