Correlation Analysis Between Bitfinex Golem and LiveCoin NEO

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

Comparative Performance

Bitfinex Golem Network  
00

Risk-Adjusted Performance

Over the last 30 days Bitfinex Golem Network Token USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Bitfinex Golem is not utilizing all of its potentials. The prevalent stock price tumult, may contribute to shorter-term losses for the shareholders.
LiveCoin NEO USD  
00

Risk-Adjusted Performance

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

Bitfinex Golem and LiveCoin NEO Volatility Contrast

Bitfinex Golem Network Token U  vs.  LiveCoin NEO USD

Bitfinex

Golem Network Token on Bitfinex in USD

 0.06 
0.00  0.00%
Market Cap: 276
  

LiveCoin

NEO on LiveCoin in USD

 9.67 
0.003  0.031%
Market Cap: 1.9 K
 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  6.22  in Bitfinex Golem Network Token USD on August 22, 2019 and sell it today you would earn a total of  0.00  from holding Bitfinex Golem Network Token USD or generate 0.0% return on investment over 30 days.

Pair Corralation between Bitfinex Golem and LiveCoin NEO

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy50.0%
ValuesDaily Returns

Diversification Opportunities for Bitfinex Golem and LiveCoin NEO

Bitfinex Golem Network Token U diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bitfinex Golem Network Token U and LiveCoin NEO USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NEO USD and Bitfinex Golem 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 Bitfinex Golem Network Token USD are associated (or correlated) with LiveCoin NEO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NEO USD has no effect on the direction of Bitfinex Golem i.e. Bitfinex Golem and LiveCoin NEO go up and down completely randomly.
See also your portfolio center. Please also try Focused Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.


 
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