Pair Correlation Between Yobit BitCrystal and LiveCoin LEOcoin

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

Yobit

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

LiveCoin

LEOcoin on LiveCoin in USD
 0.24 
(0.0016)  0.65%
Market Cap: 799
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal USD is expected to generate 16.84 times more return on investment than LiveCoin LEOcoin. However, Yobit BitCrystal is 16.84 times more volatile than LiveCoin LEOcoin USD. It trades about 0.21 of its potential returns per unit of risk. LiveCoin LEOcoin USD is currently generating about -0.11 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 LEOcoin
0.19

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

  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin LEOcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.