Correlation Analysis Between Yobit Iconic and LiveCoin YoCoin

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

Yobit Iconic USD  vs.  LiveCoin YoCoin USD

Yobit

Iconic on Yobit in USD
 0.046 
0.02388  34.17%
Market Cap: 12.0
  

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 Iconic is expected to generate 3.17 times less return on investment than LiveCoin YoCoin. In addition to that, Yobit Iconic is 1.47 times more volatile than LiveCoin YoCoin USD. It trades about 0.06 of its total potential returns per unit of risk. LiveCoin YoCoin USD is currently generating about 0.26 per unit of volatility. 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 Iconic and LiveCoin YoCoin

-0.31
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 Iconic 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 Iconic 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 Iconic 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 Iconic i.e. Yobit Iconic and LiveCoin YoCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Yobit Iconic USD  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Iconic USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
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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GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1157.66

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