Correlation Analysis Between Yobit CannabisCoin and LiveCoin Karbo

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

Yobit CannabisCoin USD  vs.  LiveCoin Karbo USD

Yobit

CannabisCoin on Yobit in USD
 0.01262 
0.00004  0.32%
Market Cap: 2.0
  

LiveCoin

Karbo on LiveCoin in USD
 0.18 
0.0182  9.11%
Market Cap: 8.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CannabisCoin USD is expected to generate 1.45 times more return on investment than LiveCoin Karbo. However, Yobit CannabisCoin is 1.45 times more volatile than LiveCoin Karbo USD. It trades about -0.06 of its potential returns per unit of risk. LiveCoin Karbo USD is currently generating about -0.27 per unit of risk. If you would invest  1.76  in Yobit CannabisCoin USD on July 22, 2018 and sell it today you would lose (0.50)  from holding Yobit CannabisCoin USD or give up 28.3% of portfolio value over 30 days.

Pair Corralation between Yobit CannabisCoin and LiveCoin Karbo

0.24
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy95.65%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit CannabisCoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days Yobit CannabisCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin Karbo USD  
0 

Risk-Adjusted Performance

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

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