Correlation Analysis Between Yobit DebitCoin and LiveCoin PutinCoin

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

Yobit DebitCoin USD  vs.  LiveCoin PutinCoin USD

Yobit

DebitCoin on Yobit in USD
 0.0066 
0.003483  111.74%
Market Cap: 2.0
  

LiveCoin

PutinCoin on LiveCoin in USD
 0.00204 
0.00039  16.05%
Market Cap: 18.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DebitCoin USD is expected to generate 1.9 times more return on investment than LiveCoin PutinCoin. However, Yobit DebitCoin is 1.9 times more volatile than LiveCoin PutinCoin USD. It trades about 0.27 of its potential returns per unit of risk. LiveCoin PutinCoin USD is currently generating about -0.01 per unit of risk. If you would invest  0.23  in Yobit DebitCoin USD on June 16, 2018 and sell it today you would earn a total of  0.43  from holding Yobit DebitCoin USD or generate 185.47% return on investment over 30 days.

Pair Corralation between Yobit DebitCoin and LiveCoin PutinCoin

0.23
Time Period1 Month [change]
DirectionPositive 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Modest diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit DebitCoin USD  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DebitCoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.
LiveCoin PutinCoin USD  
0 

Risk-Adjusted Performance

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

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