Pair Correlation Between CCEX BlakeCoin and LiveCoin Karbowanec

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

CCEX

BlakeCoin on CCEX in USD
 0.19 
0.0123  6.76%
Market Cap: 0

LiveCoin

Karbowanec on LiveCoin in USD
 1.1 
0.11  11.38%
Market Cap: 32.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX BlakeCoin USD is expected to generate 15.7 times more return on investment than LiveCoin Karbowanec. However, CCEX BlakeCoin is 15.7 times more volatile than LiveCoin Karbowanec USD. It trades about 0.18 of its potential returns per unit of risk. LiveCoin Karbowanec USD is currently generating about 0.22 per unit of risk. If you would invest  18.88  in CCEX BlakeCoin USD on November 10, 2017 and sell it today you would earn a total of  0.55  from holding CCEX BlakeCoin USD or generate 2.91% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX BlakeCoin and LiveCoin Karbowanec
0.08

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX BlakeCoin USD

  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BlakeCoin USD are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Karbowanec USD

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Karbowanec USD are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.