Correlation Analysis Between LiveCoin Ethereum and SingularityX Ethereum

This module allows you to analyze existing cross correlation between LiveCoin Ethereum USD and SingularityX Ethereum USD. You can compare the effects of market volatilities on LiveCoin Ethereum and SingularityX 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 SingularityX Ethereum. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin Ethereum and SingularityX Ethereum.
Horizon     30 Days    Login   to change
Symbolsvs
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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.
SingularityX Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days SingularityX 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 basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.

LiveCoin Ethereum and SingularityX Ethereum Volatility Contrast

 Predicted Return Density 
      Returns 

LiveCoin Ethereum USD  vs.  SingularityX Ethereum USD

LiveCoin

Ethereum on LiveCoin in USD

 195.00 
(5.93)  2.95%
Market Cap: 18.1 M
  

SingularityX

Ethereum on SingularityX in USD

 197.10 
(0.11)  0.06%
Market Cap: 19 M
(2.10)
1.08% 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 SingularityX Ethereum. But the crypto apears to be less risky and, when comparing its historical volatility, LiveCoin Ethereum USD is 1.4 times less risky than SingularityX Ethereum. The crypto trades about -0.14 of its potential returns per unit of risk. The SingularityX Ethereum USD is currently generating about -0.08 of returns per unit of risk over similar time horizon. If you would invest  29,490  in SingularityX Ethereum USD on July 21, 2019 and sell it today you would lose (9,888)  from holding SingularityX Ethereum USD or give up 33.53% of portfolio value over 30 days.

Pair Corralation between LiveCoin Ethereum and SingularityX Ethereum

0.91
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for LiveCoin Ethereum and SingularityX Ethereum

LiveCoin Ethereum USD diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin Ethereum USD and SingularityX Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SingularityX 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 SingularityX Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SingularityX Ethereum USD has no effect on the direction of LiveCoin Ethereum i.e. LiveCoin Ethereum and SingularityX Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Arbitrage module to find pairs of digital assets on multiple exchanges that are traded at a risk free arbitrage.


 
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