Correlation Analysis Between Yobit EthereumScrypt and LiveCoin Emercoin

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

Yobit EthereumScrypt USD  vs.  LiveCoin Emercoin USD

Yobit

EthereumScrypt on Yobit in USD
 0.009657 
0.000143  1.46%
Market Cap: 8.0
  

LiveCoin

Emercoin on LiveCoin in USD
 2.75 
0.05  1.85%
Market Cap: 29.6 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EthereumScrypt USD is expected to under-perform the LiveCoin Emercoin. In addition to that, Yobit EthereumScrypt is 1.07 times more volatile than LiveCoin Emercoin USD. It trades about -0.2 of its total potential returns per unit of risk. LiveCoin Emercoin USD is currently generating about 0.0 per unit of volatility. If you would invest  274.00  in LiveCoin Emercoin USD on May 24, 2018 and sell it today you would lose (4.00)  from holding LiveCoin Emercoin USD or give up 1.46% of portfolio value over 30 days.

Pair Corralation between Yobit EthereumScrypt and LiveCoin Emercoin

-0.21
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit EthereumScrypt USD  
0 

Risk-Adjusted Performance

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

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.