Pair Correlation Between Yobit CannabisCoin and LiveCoin Hellenic

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

Yobit

CannabisCoin on Yobit in USD
 0.1 
0.01501  17.66%
Market Cap: 54.0

LiveCoin

Hellenic Coin on LiveCoin in USD
 0.0068 
0.0001  1.49%
Market Cap: 4.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CannabisCoin USD is expected to generate 7.65 times more return on investment than LiveCoin Hellenic. However, Yobit CannabisCoin is 7.65 times more volatile than LiveCoin Hellenic Coin USD. It trades about 0.21 of its potential returns per unit of risk. LiveCoin Hellenic Coin USD is currently generating about -0.07 per unit of risk. If you would invest  2.86  in Yobit CannabisCoin USD on November 17, 2017 and sell it today you would earn a total of  7.14  from holding Yobit CannabisCoin USD or generate 249.77% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit CannabisCoin and LiveCoin Hellenic
-0.65

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit CannabisCoin 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 CannabisCoin 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 CannabisCoin 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 CannabisCoin i.e. Yobit CannabisCoin and LiveCoin Hellenic go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit CannabisCoin USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CannabisCoin USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Hellenic Coin

  
0 

Risk-Adjusted Performance

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