Correlation Analysis Between CCEX AlpaCoin and LiveCoin Stratis

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

Comparative Performance

CCEX AlpaCoin USD  
4

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX AlpaCoin USD are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days.
LiveCoin Stratis USD  
0

Risk-Adjusted Performance

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

CCEX AlpaCoin and LiveCoin Stratis Volatility Contrast

 Predicted Return Density 
      Returns 

CCEX AlpaCoin USD  vs.  LiveCoin Stratis USD

CCEX

AlpaCoin on CCEX in USD

 0.001101 
(0.013899)  92.66%
Market Cap: 83.0
  

LiveCoin

Stratis on LiveCoin in USD

 0.57 
0.00  0.00%
Market Cap: 40.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX AlpaCoin USD is expected to generate 2.31 times more return on investment than LiveCoin Stratis. However, CCEX AlpaCoin is 2.31 times more volatile than LiveCoin Stratis USD. It trades about 0.07 of its potential returns per unit of risk. LiveCoin Stratis USD is currently generating about -0.14 per unit of risk. If you would invest  0.58  in CCEX AlpaCoin USD on November 15, 2018 and sell it today you would lose (0.47)  from holding CCEX AlpaCoin USD or give up 80.86% of portfolio value over 30 days.

Pair Corralation between CCEX AlpaCoin and LiveCoin Stratis

-0.38
Time Period2 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy63.64%
ValuesDaily Returns

Diversification Opportunities for CCEX AlpaCoin and LiveCoin Stratis

CCEX AlpaCoin USD diversification synergy

Very good diversification

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

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