Correlation Analysis Between Yobit CannabisCoin and Yobit Lisk

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

Yobit CannabisCoin USD  vs.  Yobit Lisk USD

Yobit

CannabisCoin on Yobit in USD

 0.01076 
0.00076  7.60%
Market Cap: 0
  

Yobit

Lisk on Yobit in USD

 1.90 
0.46  19.49%
Market Cap: 460
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CannabisCoin USD is expected to under-perform the Yobit Lisk. In addition to that, Yobit CannabisCoin is 2.35 times more volatile than Yobit Lisk USD. It trades about -0.29 of its total potential returns per unit of risk. Yobit Lisk USD is currently generating about -0.3 per unit of volatility. If you would invest  302.00  in Yobit Lisk USD on October 21, 2018 and sell it today you would lose (112.00)  from holding Yobit Lisk USD or give up 37.09% of portfolio value over 30 days.

Pair Corralation between Yobit CannabisCoin and Yobit Lisk

0.39
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy72.73%
ValuesDaily Returns

Diversification

Yobit CannabisCoin USD diversification synergy

Weak diversification

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

Risk-Adjusted Performance

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

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