Correlation Analysis Between Kraken Augur and LiveCoin NEM

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

Kraken Augur USD  vs.  LiveCoin NEM USD

Kraken

Augur on Kraken in USD

 12.48 
0.87  6.52%
Market Cap: 156 K
  

LiveCoin

NEM on LiveCoin in USD

 0.09 
0.00725  8.29%
Market Cap: 692
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Kraken Augur USD is expected to under-perform the LiveCoin NEM. In addition to that, Kraken Augur is 1.05 times more volatile than LiveCoin NEM USD. It trades about -0.25 of its total potential returns per unit of risk. LiveCoin NEM USD is currently generating about -0.12 per unit of volatility. If you would invest  10.47  in LiveCoin NEM USD on August 22, 2018 and sell it today you would lose (1.72)  from holding LiveCoin NEM USD or give up 16.44% of portfolio value over 30 days.

Pair Corralation between Kraken Augur and LiveCoin NEM

0.92
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
Kraken Augur USD  
0 

Risk-Adjusted Performance

Over the last 30 days Kraken Augur USD has generated negative risk-adjusted returns adding no value to investors with long positions.
LiveCoin NEM USD  
0 

Risk-Adjusted Performance

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

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