Pair Correlation Between CCEX Anarchists and Lykke Time

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

CCEX

Anarchists Prime on CCEX in USD
 0.03 
0.009  42.86%
Market Cap: 3.0

Lykke

Time on Lykke in USD
 20 
0.24  1.21%
Market Cap: 24.3 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Anarchists Prime USD is expected to generate 13.19 times more return on investment than Lykke Time. However, CCEX Anarchists is 13.19 times more volatile than Lykke Time USD. It trades about 0.25 of its potential returns per unit of risk. Lykke Time USD is currently generating about -0.05 per unit of risk. If you would invest  0.31  in CCEX Anarchists Prime USD on November 10, 2017 and sell it today you would earn a total of  2.69  from holding CCEX Anarchists Prime USD or generate 867.74% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX Anarchists and Lykke Time
-0.46

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX Anarchists Prime

  
16 

Risk-Adjusted Performance

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

Lykke Time USD

  
0 

Risk-Adjusted Performance

Over the last 30 days Lykke Time USD has generated negative risk-adjusted returns adding no value to investors with long positions.