Correlation Analysis Between Cexio Ethereum and LiveCoin Ethereum

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

Cexio Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Cexio Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Crypto's fundamental drivers remain rather sound which may send shares a bit higher in October 2019. The ongoing tumult may also be a sign of longer-term up-swing for the entity shareholders.
LiveCoin Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin Ethereum is not utilizing all of its potentials. The prevalent stock price disturbance, may contribute to mid-run losses for the stockholder.

Cexio Ethereum and LiveCoin Ethereum Volatility Contrast

Cexio Ethereum USD  vs.  LiveCoin Ethereum USD

Cexio

Ethereum on Cexio in USD

 213.80 
(4.09)  1.88%
Market Cap: 28.3 M
  

LiveCoin

Ethereum on LiveCoin in USD

 222.94 
(0.17)  0.08%
Market Cap: 20.1 M
(9.14)
4.28% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Cexio Ethereum USD is expected to under-perform the LiveCoin Ethereum. In addition to that, Cexio Ethereum is 12.08 times more volatile than LiveCoin Ethereum USD. It trades about -0.71 of its total potential returns per unit of risk. LiveCoin Ethereum USD is currently generating about -0.71 per unit of volatility. If you would invest  22,311  in LiveCoin Ethereum USD on August 22, 2019 and sell it today you would lose (20.00)  from holding LiveCoin Ethereum USD or give up 0.09% of portfolio value over 30 days.

Pair Corralation between Cexio Ethereum and LiveCoin Ethereum

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Cexio Ethereum and LiveCoin Ethereum

Cexio Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Cexio Ethereum USD and LiveCoin Ethereum USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Ethereum USD and Cexio Ethereum 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 Cexio Ethereum USD are associated (or correlated) with LiveCoin Ethereum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Ethereum USD has no effect on the direction of Cexio Ethereum i.e. Cexio Ethereum and LiveCoin Ethereum go up and down completely randomly.
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