Correlation Analysis Between Yobit Coin2 and LiveCoin TrustCoin

This module allows you to analyze existing cross correlation between Yobit Coin2 USD and LiveCoin TrustCoin USD. You can compare the effects of market volatilities on Yobit Coin2 and LiveCoin TrustCoin 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 Coin2 with a short position of LiveCoin TrustCoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Yobit Coin2 and LiveCoin TrustCoin.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Yobit Coin.2 USD  vs.  LiveCoin TrustCoin USD

Yobit

Coin.2 on Yobit in USD
 0.003265 
0.001956  149.43%
Market Cap: 20.0
  

LiveCoin

TrustCoin on LiveCoin in USD
 0.09 
0.01104  10.81%
Market Cap: 336
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Coin2 USD is expected to generate 4.22 times more return on investment than LiveCoin TrustCoin. However, Yobit Coin2 is 4.22 times more volatile than LiveCoin TrustCoin USD. It trades about 0.2 of its potential returns per unit of risk. LiveCoin TrustCoin USD is currently generating about -0.29 per unit of risk. If you would invest  0.13  in Yobit Coin2 USD on April 27, 2018 and sell it today you would earn a total of  0.20  from holding Yobit Coin2 USD or generate 161.2% return on investment over 30 days.

Pair Corralation between Yobit Coin2 and LiveCoin TrustCoin

0.27
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit Coin.2 USD and LiveCoin TrustCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin TrustCoin USD and Yobit Coin2 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 Coin2 USD are associated (or correlated) with LiveCoin TrustCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin TrustCoin USD has no effect on the direction of Yobit Coin2 i.e. Yobit Coin2 and LiveCoin TrustCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Coin2 USD  
13 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Coin2 USD are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days.
LiveCoin TrustCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days LiveCoin TrustCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.

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Alphabet
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ExchangeNASDAQ
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