This module allows you to analyze existing cross correlation between Yobit BeardDollars USD and LiveCoin Karbo USD. You can compare the effects of market volatilities on Yobit BeardDollars and LiveCoin Karbo 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 BeardDollars with a short position of LiveCoin Karbo. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit BeardDollars
and LiveCoin Karbo
Yobit BeardDollars USD vs LiveCoin Karbo USD
Assuming 30 trading days horizon, Yobit BeardDollars USD is expected to generate 6.26 times more return on investment than LiveCoin Karbo. However, Yobit BeardDollars is 6.26 times more volatile than LiveCoin Karbo USD. It trades about 0.18 of its potential returns per unit of risk. LiveCoin Karbo USD is currently generating about -0.17 per unit of risk. If you would invest 0.30 in Yobit BeardDollars USD on February 15, 2018 and sell it today you would earn a total of 0.21 from holding Yobit BeardDollars USD or generate 70.0% return on investment over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit BeardDollars USD and LiveCoin Karbo USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Karbo USD and Yobit BeardDollars 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 BeardDollars USD are associated (or correlated) with LiveCoin Karbo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Karbo USD has no effect on the direction of Yobit BeardDollars i.e. Yobit BeardDollars and LiveCoin Karbo go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BeardDollars USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days LiveCoin Karbo USD has generated negative risk-adjusted returns adding no value to investors with long positions.