This module allows you to analyze existing cross correlation between Yobit Global Currency Reserve USD and LiveCoin NEM USD. You can compare the effects of market volatilities on Yobit Global 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 Global with a short position of LiveCoin NEM. See also your portfolio center
. Please also check ongoing floating volatility patterns of Yobit Global
and LiveCoin NEM
Yobit Global Currency Reserve vs LiveCoin NEM USD
Assuming 30 trading days horizon, Yobit Global Currency Reserve USD is expected to generate 5.55 times more return on investment than LiveCoin NEM. However, Yobit Global is 5.55 times more volatile than LiveCoin NEM USD. It trades about 0.08 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.21 per unit of risk. If you would invest 14.00 in Yobit Global Currency Reserve USD on February 15, 2018 and sell it today you would lose (10.00) from holding Yobit Global Currency Reserve USD or give up 71.43% of portfolio value over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding Yobit Global Currency Reserve 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 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 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 Global i.e. Yobit Global and LiveCoin NEM go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Global Currency Reserve USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days LiveCoin NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions.