Correlation Analysis Between Yobit Ethereum and LiveCoin Litecoin

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

Yobit Ethereum Classic USD  vs.  LiveCoin Litecoin USD

Yobit

Ethereum Classic on Yobit in USD

 4.12 
0.12  3.00%
Market Cap: 3.6 K
  

LiveCoin

Litecoin on LiveCoin in USD

 25.38 
(0.77)  2.94%
Market Cap: 956.2 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the LiveCoin Litecoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 1.15 times less risky than LiveCoin Litecoin. The crypto trades about -0.39 of its potential returns per unit of risk. The LiveCoin Litecoin USD is currently generating about -0.24 of returns per unit of risk over similar time horizon. If you would invest  5,142  in LiveCoin Litecoin USD on November 9, 2018 and sell it today you would lose (2,604)  from holding LiveCoin Litecoin USD or give up 50.64% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and LiveCoin Litecoin

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Yobit Ethereum Classic USD diversification synergy

No risk reduction

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Ethereum Classic  
0

Risk-Adjusted Performance

Over the last 30 days Yobit Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin Litecoin USD  
0

Risk-Adjusted Performance

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

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