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
CCEX CryptoCarbon USD vs LiveCoin BlueCoin USD
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.
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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.
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.
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.