This module allows you to analyze existing cross correlation between Yobit Bitshares USD and LiveCoin Hellenic Coin USD. You can compare the effects of market volatilities on Yobit Bitshares and LiveCoin Hellenic 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 Hellenic. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Bitshares
and LiveCoin Hellenic
Yobit Bitshares USD vs LiveCoin Hellenic Coin USD
Assuming 30 trading days horizon, Yobit Bitshares is expected to generate 1.02 times less return on investment than LiveCoin Hellenic. But when comparing it to its historical volatility, Yobit Bitshares USD is 1.63 times less risky than LiveCoin Hellenic. It trades about 0.21 of its potential returns per unit of risk. LiveCoin Hellenic Coin USD is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 0.61 in LiveCoin Hellenic Coin USD on November 16, 2017 and sell it today you would earn a total of 0.07 from holding LiveCoin Hellenic Coin USD or generate 11.48% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitshares USD and LiveCoin Hellenic Coin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Hellenic 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 Hellenic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Hellenic Coin has no effect on the direction of Yobit Bitshares i.e. Yobit Bitshares and LiveCoin Hellenic go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Bitshares USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Hellenic Coin USD are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.