Pair Correlation Between Yobit Bitshares and LiveCoin BlueCoin

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

Yobit

Bitshares on Yobit in USD
 0.71 
(0.2)  22.29%
Market Cap: 5.0

LiveCoin

BlueCoin on LiveCoin in USD
 0.0139 
0.0053  61.63%
Market Cap: 10.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares is expected to generate 1.2 times less return on investment than LiveCoin BlueCoin. In addition to that, Yobit Bitshares is 1.04 times more volatile than LiveCoin BlueCoin USD. It trades about 0.19 of its total potential returns per unit of risk. LiveCoin BlueCoin USD is currently generating about 0.23 per unit of volatility. If you would invest  0.56  in LiveCoin BlueCoin USD on November 10, 2017 and sell it today you would earn a total of  0.83  from holding LiveCoin BlueCoin USD or generate 148.21% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitshares and LiveCoin BlueCoin
0.42

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit Bitshares USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitshares USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

LiveCoin BlueCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.