Correlation Analysis Between Yobit Ethereum and LiveCoin YoCoin

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

Comparative Performance

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 YoCoin USD  
0

Risk-Adjusted Performance

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

Yobit Ethereum and LiveCoin YoCoin Volatility Contrast

 Predicted Return Density 
      Returns 

Yobit Ethereum Classic USD  vs.  LiveCoin YoCoin USD

Yobit

Ethereum Classic on Yobit in USD

 4.92 
0.00  0.00%
Market Cap: 2 K
  

LiveCoin

YoCoin on LiveCoin in USD

 0.0073 
0.00049  7.20%
Market Cap: 51.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Ethereum Classic USD is expected to under-perform the LiveCoin YoCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit Ethereum Classic USD is 1.43 times less risky than LiveCoin YoCoin. The crypto trades about -0.41 of its potential returns per unit of risk. The LiveCoin YoCoin USD is currently generating about -0.18 of returns per unit of risk over similar time horizon. If you would invest  1.40  in LiveCoin YoCoin USD on November 19, 2018 and sell it today you would lose (0.72)  from holding LiveCoin YoCoin USD or give up 51.29% of portfolio value over 30 days.

Pair Corralation between Yobit Ethereum and LiveCoin YoCoin

0.9
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy95.35%
ValuesDaily Returns

Diversification Opportunities for Yobit Ethereum and LiveCoin YoCoin

Yobit Ethereum Classic USD diversification synergy

Almost no diversification

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

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Piotroski F Score module to get piotroski f score based on binary analysis strategy of nine different fundamentals.


 
Search macroaxis.com