Pair Correlation Between Yobit ClubCoin and LiveCoin Litecoin

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

Yobit

ClubCoin on Yobit in USD
 1.50 
0.40  36.36%
Market Cap: 364

LiveCoin

Litecoin on LiveCoin in USD
 227.00 
18.78  7.64%
Market Cap: 44.5 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 3.64 times more return on investment than LiveCoin Litecoin. However, Yobit ClubCoin is 3.64 times more volatile than LiveCoin Litecoin USD. It trades about 0.07 of its potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about 0.08 per unit of risk. If you would invest  321.00  in Yobit ClubCoin USD on January 21, 2018 and sell it today you would lose (171.00)  from holding Yobit ClubCoin USD or give up 53.27% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit ClubCoin and LiveCoin Litecoin
-0.36

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit ClubCoin USD

  
4 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit ClubCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Litecoin USD

  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Litecoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.