Correlation Analysis Between Yobit DebitCoin and LiveCoin NovaCoin

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

Yobit DebitCoin USD  vs.  LiveCoin NovaCoin USD


DebitCoin on Yobit in USD

0.00028  10.80%
Market Cap: 0


NovaCoin on LiveCoin in USD

0.10  11.11%
Market Cap: 0
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to generate 2.64 times more return on investment than LiveCoin NovaCoin. However, Yobit DebitCoin is 2.64 times more volatile than LiveCoin NovaCoin USD. It trades about 0.09 of its potential returns per unit of risk. LiveCoin NovaCoin USD is currently generating about -0.09 per unit of risk. If you would invest  0.24  in Yobit DebitCoin USD on October 20, 2018 and sell it today you would earn a total of  0.02  from holding Yobit DebitCoin USD or generate 7.69% return on investment over 30 days.

Pair Corralation between Yobit DebitCoin and LiveCoin NovaCoin

Time Period1 Month [change]
StrengthVery Weak
ValuesDaily Returns


Yobit DebitCoin USD diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit DebitCoin 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 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 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 DebitCoin i.e. Yobit DebitCoin and LiveCoin NovaCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
Yobit DebitCoin USD  

Risk-Adjusted Performance

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

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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