Pair Correlation Between Yobit DebitCoin and LiveCoin FastCoin

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

Yobit

DebitCoin on Yobit in USD
 0.017 
0.008338  96.26%
Market Cap: 6.0

LiveCoin

FastCoin on LiveCoin in USD
 0.01101 
(0.00198)  15.24%
Market Cap: 1.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to generate 13.29 times more return on investment than LiveCoin FastCoin. However, Yobit DebitCoin is 13.29 times more volatile than LiveCoin FastCoin USD. It trades about 0.2 of its potential returns per unit of risk. LiveCoin FastCoin USD is currently generating about 0.16 per unit of risk. If you would invest  0.26  in Yobit DebitCoin USD on November 13, 2017 and sell it today you would earn a total of  1.44  from holding Yobit DebitCoin USD or generate 546.88% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit DebitCoin and LiveCoin FastCoin
-0.18

Parameters

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

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit DebitCoin USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

Yobit DebitCoin USD

Pair trading matchups for Yobit DebitCoin

LiveCoin FastCoin USD

  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin FastCoin USD are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.

LiveCoin FastCoin USD

Pair trading matchups for LiveCoin FastCoin