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
Yobit Ethereum Classic USD vs LiveCoin NEM USD
Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the LiveCoin NEM. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 1.19 times less risky than LiveCoin NEM. The crypto trades about -0.32 of its potential returns per unit of risk. The LiveCoin NEM USD is currently generating about -0.17 of returns per unit of risk over similar time horizon. If you would invest 51.28 in LiveCoin NEM USD on February 18, 2018 and sell it today you would lose (20.27) from holding LiveCoin NEM USD or give up 39.53% of portfolio value over 30 days.
|Time Period||1 Month [change]|
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.
Over the last 30 days Yobit Ethereum Classic USD has generated negative risk-adjusted returns adding no value to investors with long positions.
Over the last 30 days LiveCoin NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions.