Correlation Analysis Between CCEX Dogecoin and LiveCoin Lisk

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

CCEX Dogecoin USD  vs.  LiveCoin Lisk USD

CCEX

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

LiveCoin

Lisk on LiveCoin in USD
 5.82 
0.06  1.04%
Market Cap: 30.1 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, CCEX Dogecoin USD is expected to generate 1.5 times more return on investment than LiveCoin Lisk. However, CCEX Dogecoin is 1.5 times more volatile than LiveCoin Lisk USD. It trades about -0.15 of its potential returns per unit of risk. LiveCoin Lisk USD is currently generating about -0.34 per unit of risk. If you would invest  0.38  in CCEX Dogecoin USD on May 24, 2018 and sell it today you would lose (0.12)  from holding CCEX Dogecoin USD or give up 32.04% of portfolio value over 30 days.

Pair Corralation between CCEX Dogecoin and LiveCoin Lisk

0.86
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 Lisk USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Lisk 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 Lisk. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Lisk USD has no effect on the direction of CCEX Dogecoin i.e. CCEX Dogecoin and LiveCoin Lisk 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 Lisk USD  
0 

Risk-Adjusted Performance

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

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1169.84

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Portfolio Manager module to state of the art portfolio manager to monitor and improve performance of your invested capital.