Pair Correlation Between LiveCoin Adzcoin and LiveCoin PutinCoin

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

LiveCoin

Adzcoin on LiveCoin in USD
 0.0738 
0.00619  7.74%
Market Cap: 149

LiveCoin

PutinCoin on LiveCoin in USD
 0.0125 
0.00027  2.11%
Market Cap: 140
 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, LiveCoin Adzcoin USD is expected to generate 3.27 times more return on investment than LiveCoin PutinCoin. However, LiveCoin Adzcoin is 3.27 times more volatile than LiveCoin PutinCoin USD. It trades about 0.05 of its potential returns per unit of risk. LiveCoin PutinCoin USD is currently generating about -0.17 per unit of risk. If you would invest  12.27  in LiveCoin Adzcoin USD on January 25, 2018 and sell it today you would lose (4.89)  from holding LiveCoin Adzcoin USD or give up 39.85% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between LiveCoin Adzcoin and LiveCoin PutinCoin
0.3

Parameters

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

Diversification

Weak diversification

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

Comparative Volatility

 Predicted Return Density 
      Returns 

LiveCoin Adzcoin USD

  
3 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in LiveCoin Adzcoin USD are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.

LiveCoin Adzcoin USD

Pair trading matchups for LiveCoin Adzcoin

LiveCoin PutinCoin USD

  
0 

Risk-Adjusted Performance

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

LiveCoin PutinCoin USD

Pair trading matchups for LiveCoin PutinCoin