Correlation Analysis Between LiveCoin Ethereum and Exmo Ethereum

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

Comparative Performance

LiveCoin Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.
Exmo Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Crypto's essential indicators remain comparatively unchanging which may send shares a bit higher in September 2019. The late uproar may also be a sign of mid-term up-swing for the entity leadership.

LiveCoin Ethereum and Exmo Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Ethereum USD  vs.  Exmo Ethereum USD

LiveCoin

Ethereum on LiveCoin in USD

 193.64 
(4.13)  2.09%
Market Cap: 18.1 M
  

Exmo

Ethereum on Exmo in USD

 193.82 
(1.63)  0.83%
Market Cap: 79.6 M
(0.18)
0.09% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Ethereum USD is expected to under-perform the Exmo Ethereum. In addition to that, LiveCoin Ethereum is 1.02 times more volatile than Exmo Ethereum USD. It trades about -0.2 of its total potential returns per unit of risk. Exmo Ethereum USD is currently generating about -0.16 per unit of volatility. If you would invest  29,498  in Exmo Ethereum USD on July 26, 2019 and sell it today you would lose (10,182)  from holding Exmo Ethereum USD or give up 34.52% of portfolio value over 30 days.

Pair Corralation between LiveCoin Ethereum and Exmo Ethereum

0.99
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Ethereum and Exmo Ethereum

LiveCoin Ethereum USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Ethereum USD and Exmo Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Exmo Ethereum USD and LiveCoin Ethereum 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 LiveCoin Ethereum USD are associated (or correlated) with Exmo Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exmo Ethereum USD has no effect on the direction of LiveCoin Ethereum i.e. LiveCoin Ethereum and Exmo Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.


 
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