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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Yobit Ethereum Classic USD  vs.  LiveCoin Litecoin USD

Yobit

Ethereum Classic on Yobit in USD
 14.00 
1.26  8.26%
Market Cap: 952.4 K
  

LiveCoin

Litecoin on LiveCoin in USD
 80.19 
4.40  5.20%
Market Cap: 11.2 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to generate 1.36 times more return on investment than LiveCoin Litecoin. However, Yobit Ethereum is 1.36 times more volatile than LiveCoin Litecoin USD. It trades about -0.01 of its potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about -0.35 per unit of risk. If you would invest  1,621  in Yobit Ethereum Classic USD on May 25, 2018 and sell it today you would lose (95.00)  from holding Yobit Ethereum Classic USD or give up 5.86% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and LiveCoin Litecoin

0.05
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Significant diversification

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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