Correlation Analysis Between Yobit Bitshares and LiveCoin E-Dinar

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

Yobit Bitshares USD  vs.  LiveCoin E-Dinar Coin USD

Yobit

Bitshares on Yobit in USD

 0.13 
0.014  10.00%
Market Cap: 8.0
  

LiveCoin

E-Dinar Coin on LiveCoin in USD

 0.01233 
0.0003  2.49%
Market Cap: 39.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares USD is expected to under-perform the LiveCoin E-Dinar. In addition to that, Yobit Bitshares is 1.56 times more volatile than LiveCoin E-Dinar Coin USD. It trades about -0.09 of its total potential returns per unit of risk. LiveCoin E-Dinar Coin USD is currently generating about 0.34 per unit of volatility. If you would invest  0.79  in LiveCoin E-Dinar Coin USD on September 19, 2018 and sell it today you would earn a total of  0.41  from holding LiveCoin E-Dinar Coin USD or generate 52.47% return on investment over 30 days.

Pair Corralation between Yobit Bitshares and LiveCoin E-Dinar

-0.25
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 Bitshares USD and LiveCoin E-Dinar Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin E-Dinar Coin 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 E-Dinar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin E-Dinar Coin has no effect on the direction of Yobit Bitshares i.e. Yobit Bitshares and LiveCoin E-Dinar go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Bitshares USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit Bitshares USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin E-Dinar Coin  
22 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin E-Dinar Coin USD are ranked lower than 22 (%) of all global equities and portfolios over the last 30 days.

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