Correlation Analysis Between Yobit ClubCoin and LiveCoin NovaCoin

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

Yobit ClubCoin USD  vs.  LiveCoin NovaCoin USD

Yobit

ClubCoin on Yobit in USD
 0.39 
0.07  23.03%
Market Cap: 64.0
  

LiveCoin

NovaCoin on LiveCoin in USD
 1.35 
0.23  14.56%
Market Cap: 0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit ClubCoin USD is expected to generate 2.26 times more return on investment than LiveCoin NovaCoin. However, Yobit ClubCoin is 2.26 times more volatile than LiveCoin NovaCoin USD. It trades about 0.0 of its potential returns per unit of risk. LiveCoin NovaCoin USD is currently generating about -0.22 per unit of risk. If you would invest  40.01  in Yobit ClubCoin USD on July 21, 2018 and sell it today you would lose (8.01)  from holding Yobit ClubCoin USD or give up 20.02% of portfolio value over 30 days.

Pair Corralation between Yobit ClubCoin and LiveCoin NovaCoin

0.67
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy67.74%
ValuesDaily Returns

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit ClubCoin USD  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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