Correlation Analysis Between LiveCoin Adzcoin and Kraken Monero

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

LiveCoin Adzcoin USD  vs.  Kraken Monero USD

LiveCoin

Adzcoin on LiveCoin in USD

 0.0071 
0.00151  17.54%
Market Cap: 4.0
  

Kraken

Monero on Kraken in USD

 103.58 
0.19  0.18%
Market Cap: 9.8 M
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Adzcoin USD is expected to generate 7.72 times more return on investment than Kraken Monero. However, LiveCoin Adzcoin is 7.72 times more volatile than Kraken Monero USD. It trades about 0.08 of its potential returns per unit of risk. Kraken Monero USD is currently generating about -0.23 per unit of risk. If you would invest  0.73  in LiveCoin Adzcoin USD on September 20, 2018 and sell it today you would lose (0.02)  from holding LiveCoin Adzcoin USD or give up 2.87% of portfolio value over 30 days.

Pair Corralation between LiveCoin Adzcoin and Kraken Monero

0.16
Time Period1 Month [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Average diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 
LiveCoin Adzcoin USD  
5 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Adzcoin USD are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days.
Kraken Monero USD  
0 

Risk-Adjusted Performance

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

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ExchangeNASDAQ
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