Correlation Analysis Between Yobit Bitcloud and Yobit Lisk

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

Comparative Performance

Yobit Bitcloud USD  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Bitcloud USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Yobit Lisk USD  
0

Risk-Adjusted Performance

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

Yobit Bitcloud and Yobit Lisk Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Bitcloud USD  vs.  Yobit Lisk USD

Yobit

Bitcloud on Yobit in USD

 0.0098 
0.00  0.00%
Market Cap: 0
  

Yobit

Lisk on Yobit in USD

 1.22 
0.02  1.67%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitcloud USD is expected to generate 2.56 times more return on investment than Yobit Lisk. However, Yobit Bitcloud is 2.56 times more volatile than Yobit Lisk USD. It trades about 0.06 of its potential returns per unit of risk. Yobit Lisk USD is currently generating about -0.22 per unit of risk. If you would invest  1.31  in Yobit Bitcloud USD on November 16, 2018 and sell it today you would lose (0.33)  from holding Yobit Bitcloud USD or give up 25.13% of portfolio value over 30 days.

Pair Corralation between Yobit Bitcloud and Yobit Lisk

-0.22
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy68.18%
ValuesDaily Returns

Diversification Opportunities for Yobit Bitcloud and Yobit Lisk

Yobit Bitcloud USD diversification synergy

Very good diversification

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

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See also your portfolio center. Please also try Bollinger Bands module to use bollinger bands indicator to analyze target price for a given investing horizon.


 
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