Correlation Analysis Between Yobit Bitcloud and LiveCoin LEOcoin

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

Comparative Performance

Yobit Bitcloud USD  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitcloud USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
LiveCoin LEOcoin USD  

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.

Yobit Bitcloud and LiveCoin LEOcoin Volatility Contrast

 Predicted Return Density 

Yobit Bitcloud USD  vs.  LiveCoin LEOcoin USD


Bitcloud on Yobit in USD

(0.0022)  18.33%
Market Cap: 0


LEOcoin on LiveCoin in USD

0.01239  21.21%
Market Cap: 36.0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 2.63 times more return on investment than LiveCoin LEOcoin. However, Yobit Bitcloud is 2.63 times more volatile than LiveCoin LEOcoin USD. It trades about 0.06 of its potential returns per unit of risk. LiveCoin LEOcoin USD is currently generating about -0.1 per unit of risk. If you would invest  1.32  in Yobit Bitcloud USD on November 17, 2018 and sell it today you would lose (0.34)  from holding Yobit Bitcloud USD or give up 25.59% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcloud and LiveCoin LEOcoin

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Yobit Bitcloud and LiveCoin LEOcoin

Yobit Bitcloud USD diversification synergy

Very weak diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of macroaxis ideas.