Pair Correlation Between Yobit BitCrystal and LiveCoin Diamond

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

Yobit

BitCrystal on Yobit in USD
 0.0004199 
(0.0000001)  0.0238%
Market Cap: 78.0

LiveCoin

Diamond on LiveCoin in USD
 15.51 
(0.39)  2.45%
Market Cap: 3.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal USD is expected to generate 9.82 times more return on investment than LiveCoin Diamond. However, Yobit BitCrystal is 9.82 times more volatile than LiveCoin Diamond USD. It trades about 0.21 of its potential returns per unit of risk. LiveCoin Diamond USD is currently generating about 0.28 per unit of risk. If you would invest  0.1  in Yobit BitCrystal USD on November 14, 2017 and sell it today you would lose (0.06)  from holding Yobit BitCrystal USD or give up 64.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCrystal and LiveCoin Diamond
0.11

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 BitCrystal USD and LiveCoin Diamond USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Diamond USD and Yobit BitCrystal 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 BitCrystal USD are associated (or correlated) with LiveCoin Diamond. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Diamond USD has no effect on the direction of Yobit BitCrystal i.e. Yobit BitCrystal and LiveCoin Diamond go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitCrystal USD

  
13 

Risk-Adjusted Performance

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

LiveCoin Diamond USD

  
18 

Risk-Adjusted Performance

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