Correlation Analysis Between Yobit Global and LiveCoin Litecoin

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

Yobit Global Currency Reserve   vs.  LiveCoin Litecoin USD

Yobit

Global Currency Reserve on Yobit in USD

 0.31 
0.0171  5.76%
Market Cap: 69.0
  

LiveCoin

Litecoin on LiveCoin in USD

 57.59 
2.13  3.57%
Market Cap: 7.7 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Yobit Global Currency Reserve USD is expected to generate 3.36 times more return on investment than LiveCoin Litecoin. However, Yobit Global is 3.36 times more volatile than LiveCoin Litecoin USD. It trades about 0.3 of its potential returns per unit of risk. LiveCoin Litecoin USD is currently generating about -0.01 per unit of risk. If you would invest  14.50  in Yobit Global Currency Reserve USD on August 26, 2018 and sell it today you would earn a total of  20.52  from holding Yobit Global Currency Reserve USD or generate 141.52% return on investment over 30 days.

Pair Corralation between Yobit Global and LiveCoin Litecoin

-0.15
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy95.45%
ValuesDaily Returns

Diversification

Good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Global Currency  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Global Currency Reserve USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.
LiveCoin Litecoin USD  
0 

Risk-Adjusted Performance

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

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