Pair Correlation Between Yobit DarkGold and LiveCoin Adzcoin

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

Yobit

DarkGold on Yobit in USD
 0.58 
0.26  81.25%
Market Cap: 18.0

LiveCoin

Adzcoin on LiveCoin in USD
 0.07999 
0.00619  8.39%
Market Cap: 149
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DarkGold USD is expected to generate 2.16 times more return on investment than LiveCoin Adzcoin. However, Yobit DarkGold is 2.16 times more volatile than LiveCoin Adzcoin USD. It trades about 0.14 of its potential returns per unit of risk. LiveCoin Adzcoin USD is currently generating about 0.06 per unit of risk. If you would invest  90.00  in Yobit DarkGold USD on January 25, 2018 and sell it today you would lose (58.00)  from holding Yobit DarkGold USD or give up 64.44% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between Yobit DarkGold and LiveCoin Adzcoin
-0.29

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit DarkGold USD

  
9 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit DarkGold USD are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days.

Yobit DarkGold USD

Pair trading matchups for Yobit DarkGold

LiveCoin Adzcoin USD

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Adzcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Adzcoin USD

Pair trading matchups for LiveCoin Adzcoin