Correlation Analysis Between CCEX Dogecoin and LiveCoin BlueCoin

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

CCEX Dogecoin USD  vs.  LiveCoin BlueCoin USD

CCEX

Dogecoin on CCEX in USD
 0.00255 
0.00005  1.92%
Market Cap: 47.0
  

LiveCoin

BlueCoin on LiveCoin in USD
 0.00404 
0.00052  14.77%
Market Cap: 2.0
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Dogecoin USD is expected to under-perform the LiveCoin BlueCoin. But the crypto apears to be less risky and, when comparing its historical volatility, CCEX Dogecoin USD is 2.27 times less risky than LiveCoin BlueCoin. The crypto trades about -0.16 of its potential returns per unit of risk. The LiveCoin BlueCoin USD is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest  0.73  in LiveCoin BlueCoin USD on May 25, 2018 and sell it today you would lose (0.33)  from holding LiveCoin BlueCoin USD or give up 44.88% of portfolio value over 30 days.

Pair Corralation between CCEX Dogecoin and LiveCoin BlueCoin

0.8
Time Period1 Month [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding CCEX Dogecoin 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 Dogecoin 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 Dogecoin 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 Dogecoin i.e. CCEX Dogecoin and LiveCoin BlueCoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
CCEX Dogecoin USD  
0 

Risk-Adjusted Performance

Over the last 30 days CCEX Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin BlueCoin USD  
0 

Risk-Adjusted Performance

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

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See also your portfolio center. Please also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.