This module allows you to analyze existing cross correlation between Yobit Bitshares USD and LiveCoin NovaCoin USD. You can compare the effects of market volatilities on Yobit Bitshares and LiveCoin NovaCoin 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 NovaCoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Bitshares
and LiveCoin NovaCoin
Yobit Bitshares USD vs LiveCoin NovaCoin USD
Assuming 30 trading days horizon, Yobit Bitshares USD is expected to generate 8.63 times more return on investment than LiveCoin NovaCoin. However, Yobit Bitshares is 8.63 times more volatile than LiveCoin NovaCoin USD. It trades about 0.09 of its potential returns per unit of risk. LiveCoin NovaCoin USD is currently generating about -0.13 per unit of risk. If you would invest 100.00 in Yobit Bitshares USD on February 22, 2018 and sell it today you would lose (50.00) from holding Yobit Bitshares USD or give up 50.0% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very weak diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitshares USD and LiveCoin NovaCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NovaCoin 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 NovaCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NovaCoin USD has no effect on the direction of Yobit Bitshares i.e. Yobit Bitshares and LiveCoin NovaCoin 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 5 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days LiveCoin NovaCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.