Correlation Analysis Between Yobit Ethereum and LiveCoin NEM

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

Yobit Ethereum Classic USD  vs.  LiveCoin NEM USD

Yobit

Ethereum Classic on Yobit in USD

 11.44 
0.19  1.69%
Market Cap: 141.1 K
  

LiveCoin

NEM on LiveCoin in USD

 0.1 
0.00407  4.37%
Market Cap: 7 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to generate 0.54 times more return on investment than LiveCoin NEM. However, Yobit Ethereum Classic USD is 1.85 times less risky than LiveCoin NEM. It trades about -0.11 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.08 per unit of risk. If you would invest  1,276  in Yobit Ethereum Classic USD on August 27, 2018 and sell it today you would lose (132.00)  from holding Yobit Ethereum Classic USD or give up 10.34% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and LiveCoin NEM

0.91
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Risk-Adjusted Performance

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

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