Pair Correlation Between Yobit DarkGold and LiveCoin BlueCoin

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

Yobit

DarkGold on Yobit in USD
 0.3 
(0.2)  40%
Market Cap: 30.0

LiveCoin

BlueCoin on LiveCoin in USD
 0.01429 
0.0032  28.85%
Market Cap: 67.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit DarkGold USD is expected to under-perform the LiveCoin BlueCoin. In addition to that, Yobit DarkGold is 1.52 times more volatile than LiveCoin BlueCoin USD. It trades about -0.03 of its total potential returns per unit of risk. LiveCoin BlueCoin USD is currently generating about 0.29 per unit of volatility. If you would invest  0.31  in LiveCoin BlueCoin USD on November 14, 2017 and sell it today you would earn a total of  1.12  from holding LiveCoin BlueCoin USD or generate 360.97% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Yobit DarkGold and LiveCoin BlueCoin
-0.8

Parameters

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

Diversification

Pay attention

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

Comparative Volatility

 Predicted Return Density 
      Returns 

Yobit DarkGold USD

  
0 

Risk-Adjusted Performance

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

LiveCoin BlueCoin USD

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

LiveCoin BlueCoin USD

Pair trading matchups for LiveCoin BlueCoin