Pair Correlation Between Yobit BitCrystal and LiveCoin NEM

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

Yobit

BitCrystal on Yobit in USD
 0.00043 
0.0001  30.3%
Market Cap: 78.0

LiveCoin

NEM on LiveCoin in USD
 0.53 
0.01  1.92%
Market Cap: 682
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit BitCrystal USD is expected to generate 5.33 times more return on investment than LiveCoin NEM. However, Yobit BitCrystal is 5.33 times more volatile than LiveCoin NEM USD. It trades about 0.21 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about 0.25 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 57.0% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit BitCrystal and LiveCoin NEM
0.03

Parameters

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

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit BitCrystal USD

  
14 

Risk-Adjusted Performance

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

LiveCoin NEM USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.