This module allows you to analyze existing cross correlation between Yobit Bitshares USD and LiveCoin NEM USD. You can compare the effects of market volatilities on Yobit Bitshares and LiveCoin NEM 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 NEM. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Bitshares
and LiveCoin NEM
Yobit Bitshares USD vs LiveCoin NEM USD
Assuming 30 trading days horizon, Yobit Bitshares USD is expected to generate 1.96 times more return on investment than LiveCoin NEM. However, Yobit Bitshares is 1.96 times more volatile than LiveCoin NEM USD. It trades about 0.18 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about 0.25 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 32.89 from holding Yobit Bitshares USD or generate 81.88% return on investment over 30 days.
|Time Period||1 Month [change]|
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Bitshares USD and LiveCoin NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NEM 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 NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NEM USD has no effect on the direction of Yobit Bitshares i.e. Yobit Bitshares and LiveCoin NEM 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 11 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.