Correlation Analysis Between Yobit Bitcloud and LiveCoin NEM

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

Risk-Adjusted Performance

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

Yobit Bitcloud and LiveCoin NEM Volatility Contrast

 Predicted Return Density 

Yobit Bitcloud USD  vs.  LiveCoin NEM USD


Bitcloud on Yobit in USD

(0.0022)  18.33%
Market Cap: 0


NEM on LiveCoin in USD

0.00102  1.68%
Market Cap: 2.1 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 3.26 times more return on investment than LiveCoin NEM. However, Yobit Bitcloud is 3.26 times more volatile than LiveCoin NEM USD. It trades about 0.06 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.13 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 NEM

Time Period2 Months [change]
ValuesDaily Returns

Diversification Opportunities for Yobit Bitcloud and LiveCoin NEM

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 NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NEM 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 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 Bitcloud i.e. Yobit Bitcloud and LiveCoin NEM go up and down completely randomly.

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See also your portfolio center. Please also try Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.