Pair Correlation Between Yobit Bitshares and LiveCoin Litecoin

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

Yobit

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

LiveCoin

Litecoin on LiveCoin in USD
 138 
(8.5)  5.8%
Market Cap: 643.7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Bitshares USD is expected to generate 2.88 times more return on investment than LiveCoin Litecoin. However, Yobit Bitshares is 2.88 times more volatile than LiveCoin Litecoin USD. It trades about 0.19 of its potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about 0.29 per unit of risk. If you would invest  35.01  in Yobit Bitshares USD on November 10, 2017 and sell it today you would earn a total of  35.99  from holding Yobit Bitshares USD or generate 102.8% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit Bitshares and LiveCoin Litecoin
0.56

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

  
18 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Litecoin USD are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.