Correlation Analysis Between coinfield ZCash and LiveCoin NEO

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

coinfield ZCash USD  
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Risk-Adjusted Performance

Over the last 30 days coinfield ZCash 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 NEO USD  
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Risk-Adjusted Performance

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

coinfield ZCash and LiveCoin NEO Volatility Contrast

coinfield ZCash USD  vs.  LiveCoin NEO USD

coinfield

ZCash on coinfield in USD

 47.44 
(1.11)  2.29%
Market Cap: 157.2 K
  

LiveCoin

NEO on LiveCoin in USD

 9.68 
0.013  0.13%
Market Cap: 1.9 K
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, coinfield ZCash USD is expected to under-perform the LiveCoin NEO. In addition to that, coinfield ZCash is 9.56 times more volatile than LiveCoin NEO USD. It trades about -0.71 of its total potential returns per unit of risk. LiveCoin NEO USD is currently generating about 0.71 per unit of volatility. If you would invest  966.70  in LiveCoin NEO USD on August 22, 2019 and sell it today you would earn a total of  1.50  from holding LiveCoin NEO USD or generate 0.16% return on investment over 30 days.

Pair Corralation between coinfield ZCash and LiveCoin NEO

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

Diversification Opportunities for coinfield ZCash and LiveCoin NEO

coinfield ZCash USD diversification synergy

Pay attention

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