Correlation Analysis Between Exenium Ethereum and LiveCoin Ethereum

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

Comparative Performance

Exenium Ethereum USD  
00

Risk-Adjusted Performance

Over the last 30 days Exenium Ethereum USD has generated negative risk-adjusted returns adding no value to investors with long positions. Even with fragile performance in the last few months, the Crypto's technical indicators remain considerably steady which may send shares a bit higher in October 2019. The new chaos may also be a sign of medium term up-swing for the entity stakeholders.
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.

Exenium Ethereum and LiveCoin Ethereum Volatility Contrast

Exenium Ethereum USD  vs.  LiveCoin Ethereum USD

Exenium

Ethereum on Exenium in USD

 206.28 
(6.63)  3.11%
Market Cap: 3.3 M
  

LiveCoin

Ethereum on LiveCoin in USD

 222.94 
(0.17)  0.08%
Market Cap: 20.1 M
(16.66)
8.08% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exenium Ethereum USD is expected to under-perform the LiveCoin Ethereum. In addition to that, Exenium Ethereum is 9.9 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 Exenium Ethereum and LiveCoin Ethereum

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

Diversification Opportunities for Exenium Ethereum and LiveCoin Ethereum

Exenium Ethereum USD diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Exenium 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 Exenium 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 Exenium 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 Exenium Ethereum i.e. Exenium Ethereum and LiveCoin Ethereum go up and down completely randomly.
See also your portfolio center. Please also try Money Flow Index module to determine momentum by analyzing money flow index and other technical indicators.


 
Search macroaxis.com