Pair Correlation Between Yobit BitCurrency and LiveCoin TrustCoin

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

Yobit

BitCurrency on Yobit in USD
 0.004889 
(0.002278)  31.78%
Market Cap: 8.6 K

LiveCoin

TrustCoin on LiveCoin in USD
 0.48 
0.035  7.87%
Market Cap: 163
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCurrency USD is expected to generate 12.95 times more return on investment than LiveCoin TrustCoin. However, Yobit BitCurrency is 12.95 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 0.21 per unit of risk. If you would invest  0.01  in Yobit BitCurrency USD on November 14, 2017 and sell it today you would earn a total of  0.71  from holding Yobit BitCurrency USD or generate 7067.0% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCurrency and LiveCoin TrustCoin
0.1

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit BitCurrency 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 BitCurrency 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 BitCurrency 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 BitCurrency i.e. Yobit BitCurrency and LiveCoin TrustCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitCurrency USD

  
20 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit BitCurrency USD are ranked lower than 20 (%) of all global equities and portfolios over the last 30 days.

LiveCoin TrustCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin TrustCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.