Correlation Analysis Between Exmo Dash and LiveCoin Dash

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

Exmo Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days Exmo Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's basic indicators remain somewhat strong which may send shares a bit higher in September 2019. The current disturbance may also be a sign of long term up-swing for the entity investors.
LiveCoin Dash USD  
00

Risk-Adjusted Performance

Over the last 30 days LiveCoin Dash USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Crypto's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Exmo Dash and LiveCoin Dash Volatility Contrast

 Predicted Return Density 
      Returns 

Exmo Dash USD  vs.  LiveCoin Dash USD

Exmo

Dash on Exmo in USD

 93.87 
(1.52)  1.59%
Market Cap: 1.7 M
  

LiveCoin

Dash on LiveCoin in USD

 93.25 
(0.88)  0.93%
Market Cap: 525.9 K
 0.62 
0.66% Risk Free Arbitrage
All Coins Arbitrage Correlation
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Exmo Dash USD is expected to generate 1.01 times more return on investment than LiveCoin Dash. However, Exmo Dash is 1.01 times more volatile than LiveCoin Dash USD. It trades about -0.2 of its potential returns per unit of risk. LiveCoin Dash USD is currently generating about -0.21 per unit of risk. If you would invest  16,905  in Exmo Dash USD on July 25, 2019 and sell it today you would lose (7,366)  from holding Exmo Dash USD or give up 43.57% of portfolio value over 30 days.

Pair Corralation between Exmo Dash and LiveCoin Dash

1.0
Time Period2 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Exmo Dash and LiveCoin Dash

Exmo Dash USD diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Exmo Dash USD and LiveCoin Dash USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on LiveCoin Dash USD and Exmo Dash 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 Exmo Dash USD are associated (or correlated) with LiveCoin Dash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LiveCoin Dash USD has no effect on the direction of Exmo Dash i.e. Exmo Dash and LiveCoin Dash go up and down completely randomly.
See also your portfolio center. Please also try Balance Of Power module to check stock momentum by analyzing balance of power indicator and other technical ratios.


 
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