Pair Correlation Between Yobit Bitcloud and LiveCoin Karbowanec

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

Yobit

Bitcloud on Yobit in USD
 0.034 
(0.075)  68.81%
Market Cap: 23.0

LiveCoin

Karbowanec on LiveCoin in USD
 1.14 
0.01  0.89%
Market Cap: 12.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 11.93 times more return on investment than LiveCoin Karbowanec. However, Yobit Bitcloud is 11.93 times more volatile than LiveCoin Karbowanec USD. It trades about 0.3 of its potential returns per unit of risk. LiveCoin Karbowanec USD is currently generating about -0.01 per unit of risk. If you would invest  2.5  in Yobit Bitcloud USD on November 18, 2017 and sell it today you would earn a total of  0.9  from holding Yobit Bitcloud USD or generate 36.05% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitcloud and LiveCoin Karbowanec
-0.31

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitcloud USD and LiveCoin Karbowanec USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Karbowanec USD and Yobit Bitcloud 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 Bitcloud USD are associated (or correlated) with LiveCoin Karbowanec. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Karbowanec USD has no effect on the direction of Yobit Bitcloud i.e. Yobit Bitcloud and LiveCoin Karbowanec go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Bitcloud USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Karbowanec USD

  
0 

Risk-Adjusted Performance

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