Correlation Analysis Between Yobit EthereumScrypt and LiveCoin YoCoin

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

Yobit EthereumScrypt USD  vs.  LiveCoin YoCoin USD

Yobit

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

LiveCoin

YoCoin on LiveCoin in USD
 0.04493 
0.00003  0.07%
Market Cap: 474
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit EthereumScrypt USD is expected to under-perform the LiveCoin YoCoin. But the crypto apears to be less risky and, when comparing its historical volatility, Yobit EthereumScrypt USD is 4.8 times less risky than LiveCoin YoCoin. The crypto trades about -0.19 of its potential returns per unit of risk. The LiveCoin YoCoin USD is currently generating about 0.26 of returns per unit of risk over similar time horizon. If you would invest  1.60  in LiveCoin YoCoin USD on May 22, 2018 and sell it today you would earn a total of  2.89  from holding LiveCoin YoCoin USD or generate 180.81% return on investment over 30 days.

Pair Corralation between Yobit EthereumScrypt and LiveCoin YoCoin

-0.58
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Yobit EthereumScrypt 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 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 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 EthereumScrypt i.e. Yobit EthereumScrypt and LiveCoin YoCoin 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 YoCoin USD  
17 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin YoCoin USD are ranked lower than 17 (%) of all global equities and portfolios over the last 30 days.

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