Pair Correlation Between Yobit Bitshares and LiveCoin FastCoin

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

Yobit

Bitshares on Yobit in USD
 0.85 
0.12  15.93%
Market Cap: 5.0

LiveCoin

FastCoin on LiveCoin in USD
 0.0092 
(0.00278)  23.21%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares USD is expected to generate 2.02 times more return on investment than LiveCoin FastCoin. However, Yobit Bitshares is 2.02 times more volatile than LiveCoin FastCoin USD. It trades about 0.19 of its potential returns per unit of risk. LiveCoin FastCoin USD is currently generating about 0.12 per unit of risk. If you would invest  40.17  in Yobit Bitshares USD on November 14, 2017 and sell it today you would earn a total of  44.53  from holding Yobit Bitshares USD or generate 110.85% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitshares and LiveCoin FastCoin
0.45

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy96.77%
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 FastCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin FastCoin 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 FastCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin FastCoin USD has no effect on the direction of Yobit Bitshares i.e. Yobit Bitshares and LiveCoin FastCoin 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 FastCoin USD

  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin FastCoin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.