Pair Correlation Between CCEX CryptoCarbon and LiveCoin BlueCoin

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

CCEX

CryptoCarbon on CCEX in USD
 0.37 
(0.0436)  10.65%
Market Cap: 17.0

LiveCoin

BlueCoin on LiveCoin in USD
 0.01402 
0.00001  0.0714%
Market Cap: 67.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX CryptoCarbon USD is expected to generate 2.37 times more return on investment than LiveCoin BlueCoin. However, CCEX CryptoCarbon is 2.37 times more volatile than LiveCoin BlueCoin USD. It trades about 0.19 of its potential returns per unit of risk. LiveCoin BlueCoin USD is currently generating about 0.23 per unit of risk. If you would invest  15  in CCEX CryptoCarbon USD on November 12, 2017 and sell it today you would earn a total of  25.92  from holding CCEX CryptoCarbon USD or generate 172.8% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between CCEX CryptoCarbon and LiveCoin BlueCoin
0.74

Parameters

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

Diversification

Poor diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX CryptoCarbon USD

  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CCEX CryptoCarbon USD are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

LiveCoin BlueCoin USD

  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin BlueCoin USD are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.