Pair Correlation Between CCEX BitZeny and LiveCoin LEOcoin

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.
Investment Horizon     30 Days    Login   to change
Symbolsvs
 CCEX BitZeny USD  vs   LiveCoin LEOcoin USD

CCEX

BitZeny on CCEX in USD
 0.19 
(0.12)  39.58%
Market Cap: 192

LiveCoin

LEOcoin on LiveCoin in USD
 0.25 
0.0056  2.32%
Market Cap: 36.0
 Performance (%) 
      Timeline 

Pair Volatility

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.

Correlation Coefficient

Pair Corralation between CCEX BitZeny and LiveCoin LEOcoin
-0.44

Parameters

Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

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.

Comparative Volatility

 Predicted Return Density 
      Returns 

CCEX BitZeny USD

  
16 

Risk-Adjusted Performance

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.

LiveCoin LEOcoin USD

  
0 

Risk-Adjusted Performance

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