This module allows you to analyze existing cross correlation between CCEX BitZeny USD and LiveCoin LEOcoin USD. You can compare the effects of market volatilities on CCEX BitZeny and LiveCoin LEOcoin 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 BitZeny with a short position of LiveCoin LEOcoin. See also your portfolio center
. Please also check ongoing floating volatility patterns of CCEX BitZeny
and LiveCoin LEOcoin
CCEX BitZeny USD vs LiveCoin LEOcoin USD
Assuming 30 trading days horizon, CCEX BitZeny USD is expected to generate 33.27 times more return on investment than LiveCoin LEOcoin. However, CCEX BitZeny is 33.27 times more volatile than LiveCoin LEOcoin USD. It trades about 0.25 of its potential returns per unit of risk. LiveCoin LEOcoin USD is currently generating about -0.12 per unit of risk. If you would invest 0.44 in CCEX BitZeny USD on November 16, 2017 and sell it today you would earn a total of 18.47 from holding CCEX BitZeny USD or generate 4200.66% return on investment over 30 days.
|Time Period||1 Month [change]|
Very good diversification
Overlapping area represents the amount of risk that can be diversified away by holding CCEX BitZeny USD and LiveCoin LEOcoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin LEOcoin USD and CCEX BitZeny 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 BitZeny USD are associated (or correlated) with LiveCoin LEOcoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin LEOcoin USD has no effect on the direction of CCEX BitZeny i.e. CCEX BitZeny and LiveCoin LEOcoin go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in CCEX BitZeny USD are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days.
Over the last 30 days LiveCoin LEOcoin USD has generated negative risk-adjusted returns adding no value to investors with long positions.