Pair Correlation Between CCEX Anarchists and LiveCoin NEM

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

CCEX

Anarchists Prime on CCEX in USD
 0.03 
(0.02)  40%
Market Cap: 3.8 K

LiveCoin

NEM on LiveCoin in USD
 0.59 
0.0572  10.79%
Market Cap: 682
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Anarchists Prime USD is expected to generate 4.78 times more return on investment than LiveCoin NEM. However, CCEX Anarchists is 4.78 times more volatile than LiveCoin NEM USD. It trades about 0.29 of its potential returns per unit of risk. LiveCoin NEM USD is currently generating about 0.25 per unit of risk. If you would invest  0.31  in CCEX Anarchists Prime USD on November 15, 2017 and sell it today you would earn a total of  4.69  from holding CCEX Anarchists Prime USD or generate 1512.9% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX Anarchists and LiveCoin NEM
0.66

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy96.77%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding CCEX Anarchists Prime USD and LiveCoin NEM USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin NEM USD and CCEX Anarchists 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 CCEX Anarchists Prime USD are associated (or correlated) with LiveCoin NEM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin NEM USD has no effect on the direction of CCEX Anarchists i.e. CCEX Anarchists and LiveCoin NEM go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX Anarchists Prime

  
19 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX Anarchists Prime USD are ranked lower than 19 (%) of all global equities and portfolios over the last 30 days.

LiveCoin NEM USD

  
16 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin NEM USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.