Correlation Analysis Between Yobit CryptoSpots and LiveCoin NEM

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

Yobit CryptoSpots USD  vs.  LiveCoin NEM USD

Yobit

CryptoSpots on Yobit in USD

 0.009 
0.001469  19.51%
Market Cap: 1.0
  

LiveCoin

NEM on LiveCoin in USD

 0.07 
(0.00041)  0.60%
Market Cap: 9.5 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit CryptoSpots USD is expected to generate 8.36 times more return on investment than LiveCoin NEM. However, Yobit CryptoSpots is 8.36 times more volatile than LiveCoin NEM USD. It trades about 0.12 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.09 per unit of risk. If you would invest  0.60  in Yobit CryptoSpots USD on November 11, 2018 and sell it today you would earn a total of  0.30  from holding Yobit CryptoSpots USD or generate 50.0% return on investment over 30 days.

Pair Corralation between Yobit CryptoSpots and LiveCoin NEM

0.33
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Yobit CryptoSpots USD diversification synergy

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit CryptoSpots USD  
7

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit CryptoSpots USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.
LiveCoin NEM USD  
0

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions

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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1042.77

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