Correlation Analysis Between Yobit NEM and LiveCoin NovaCoin

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

Yobit NEM USD  
00

Risk-Adjusted Performance

Over the last 30 days Yobit NEM USD has generated negative risk-adjusted returns adding no value to investors with long positions. Inspite fairly fragile basic indicators, Yobit NEM showed solid returns over the last few months and may actually be approaching a breakup point.
LiveCoin NovaCoin USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin NovaCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin NovaCoin is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.

Yobit NEM and LiveCoin NovaCoin Volatility Contrast

Yobit NEM USD  vs.  LiveCoin NovaCoin USD

Yobit

NEM on Yobit in USD

 0.0462 
(0.00009)  0.19%
Market Cap: 38.0
  

LiveCoin

NovaCoin on LiveCoin in USD

 0.40 
0.00  0.00%
Market Cap: 31.0
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  4.63  in Yobit NEM USD on August 22, 2019 and sell it today you would earn a total of  0.26  from holding Yobit NEM USD or generate 5.68% return on investment over 30 days.

Pair Corralation between Yobit NEM and LiveCoin NovaCoin

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Yobit NEM and LiveCoin NovaCoin

Yobit NEM USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Yobit NEM USD and LiveCoin NovaCoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NovaCoin USD and Yobit NEM 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 NEM USD are associated (or correlated) with LiveCoin NovaCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NovaCoin USD has no effect on the direction of Yobit NEM i.e. Yobit NEM and LiveCoin NovaCoin go up and down completely randomly.
See also your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.


 
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